A $1.3 Trillion Debt-Fueled Boom in Deals Faces a Grim New Reality

 Companies that relied on cheap credit to bankroll takeover deals are struggling to keep promises and manage borrowing costs

When a Walgreens Boots Alliance Inc. affiliate bought Summit Health-CityMD around a year ago, the pharmacy group’s management hailed the deal as transformational for its push into primary health care.

Twelve months later, the $8.9 billion takeover has struggled to deliver cost synergies and Walgreens’s creditworthiness has just been cut to junk for the first time since its formation.

https://www.bloomberg.com/news/articles/2023-12-18/a-1-3-trillion-debt-fueled-m-a-boom-faces-high-interest-rate-realities