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A $70bn Walgreens buyout would signal the top of the market

The deal would be the biggest LBO ever and has echoes of another troubled deal from the past

US drugstore group Walgreens acquired UK chemist Boots in 2014
US drugstore group Walgreens acquired UK chemist Boots in 2014 Photo: Getty Images

If investors ever needed a clear signal that this is the top of the market, they now have one.

Walgreens Boots Alliance shares surged on November 6 after speculation that the US-listed drugstore group has been considering a $70bn take-private deal.

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