Walgreens Rises on Report That Sycamore Would Split Company (1)

Walgreens Boots Alliance Inc.shares rose Thursday morning after a report that a potential take-private deal from Sycamore Partners would lead to a breakup of the drugstore chain.

Sycamore, which has been reportedly exploring a purchase of Walgreens for months, is planning on splitting up the company’s US and UK pharmacy businesses, as well as its specialty pharmacy unit, the Financial Times reported Thursday.

Walgreens shares rose as much as 7.3% when US markets opened. They had gained 18% this year through Wednesday’s close. Representatives for Walgreens and Sycamore declined to comment.

Reports emerged in December that Sycamore was considering ...