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Walmart to explore buying majority stake in ChenMed -Bloomberg News

Published 09/08/2023, 09:10 PM
Updated 09/08/2023, 09:16 PM
© Reuters. A shopper is seen without a mask after leaving a Walmart store in Bradford, Pennsylvania, U.S. July 20, 2020. REUTERS/Brendan McDermid
WMT
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(Reuters) - Walmart (NYSE:WMT) Inc is exploring buying a majority stake in ChenMed, a closely held operator of primary care clinics for seniors, Bloomberg News reported on Friday.

The companies are in talks for a deal that would value ChenMed at several billion dollars, Bloomberg reported, citing people familiar with the matter.

© Reuters. A shopper is seen without a mask after leaving a Walmart store in Bradford, Pennsylvania, U.S. July 20, 2020. REUTERS/Brendan McDermid

A deal could still be weeks away, the report said, adding that the terms are not finalized and talks could still fall apart. It is also possible a different potential buyer could emerge, it said.

Walmart and ChenMed did not immediately respond to Reuters requests for comment.

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