Pharmacy chain Walgreens Boots Alliance Inc. and drug distributor AmerisourceBergen Corp. have reportedly ended high-level talks without reaching a deal, CNBC reported Feb. 27.
The top executives at both companies had met for early stage talks, CNBC reported, citing unnamed sources who added that talks between the companies could resume.
Neither Walgreens nor AmerisourceBergen immediately responded to S&P Global Market Intelligence requests for comment.
Had Walgreens pursued a deal to buy AmerisourceBergen, the transaction could have been worth about $25 billion, CNBC reported. As of Feb. 26, the drug wholesaler had a market capitalization of about $22.1 billion, and Walgreens owned about 26% of the company's outstanding shares, according to S&P Capital IQ.
The Wall Street Journal first reported that the two companies were discussing a potential tie-up Feb. 12.
The talks are the latest effort by retail pharmacy chains to adjust their strategies, following CVS Health Corp.'s $69 billion bid for insurer Aetna Inc. in December 2017. More recently, privately held grocer Albertsons Cos. LLC said it planned to buy Rite Aid Corp., excluding stores that the retail pharmacy had previously agreed to sell to Walgreens.