Benzinga | Sep 30, 2021 07:13AM EDT

Walgreens In Talks To Buy Evolent Health: Bloomberg

* Walgreens Boots Alliance Inc (NASDAQ:WBA) is reportedly mulling an acquisition of Evolent Health Inc (NYSE:EVH).

* Citing people familiar with the matter, Bloomberg reported that the talks are ongoing, and there is no certainty Walgreens will move forward with an offer to buy the company.

* Walgreens previously said it was focused on making strategic investments to build on its core pharmacy business.

* Last week, it made a $970 million investment to acquire a majority stake in specialty pharmacy company Shields Health Solutions.

* EVH is a healthcare IT services company, while WBA operates a chain of pharmacies.

* The potential takeover could give Walgreens an edge over the competition in the drugstore space as more retail sales shift online.

* Activist investor Engaged Capital disclosed a nearly 10% stake in Evolent in August 2020 and pushed it to explore ways to create value, including through a partial or complete sale.

* Read Next: Stock Wars: CVS Health Vs. Walgreens Boots Alliance.

* Price Action: EVH stock traded 0.73% higher at $29.15 premarket on the last check Thursday, and WBA stock closed 1.29% higher at $48.71 on Wednesday.