BUZZ-Walgreens falls after report says deal with Sycamore 'mostly dead'

Shares of pharmacy chain Walgreens Boots Alliance WBA.O fall 6.7% to $11.08

The deal between private equity firm Sycamore Partners and WBA is "mostly dead", CNBC journalist David Faber commented live on air, citing sources familiar with the matter

WBA was looking to sell itself to Sycamore Partners and had also reached out to other potential buyers, according to media outlets

Walgreens did not immediately respond to a request for comment

The potential deal was a "longshot given the size of the deal, financing considerations, and challenges finding a robust expected return" - Leerink Partners

WBA beat analysts' expectations for Q1 profit earlier this month and indicated that its restructuring was taking hold

"Keeping that momentum will be the key driver to rebuild sentiment, although we would not be surprised to see further stock volatility as deal speculation dies down," said Leerink analysts

Up to last close, stock down ~52% over the past 12 months