The Dow Jones Industrial Average (DJINDICES: ^DJI) managed to turn positive by Monday afternoon, up 0.08% at 1:50 p.m. EST. Big gains for Walgreens Boots Alliance (NASDAQ: WBA) and Boeing (NYSE: BA) drove the Dow higher. Walgreens took a step closer to a go-private deal, and Boeing laid out an optimistic timeline for its 737 MAX.
Last week, reports emerged that drugstore chain Walgreens was exploring going private. Optimism was dampened the next day by analysts putting low odds on a deal of such magnitude. Including debt, Walgreens has an enterprise value of roughly $70 billion.
A deal became more likely on Monday after Bloomberg reported that private equity firm KKR & Co. has made a formal approach. KKR has been working on a proposal to take Walgreens private, according to Bloomberg's sources, even as other potential suitors have walked away. Shares of Walgreens were up 6.1% on the news.