Sycamore Partners has been speaking with private credit firms about debt financing for a potential deal, despite an earlier report that takeover talks had stalled.

The change is aimed at improving Walgreens’ finances by reducing debt over time and improving cash flow, the company said.

Walgreens suspends its quarterly dividend for the first time in 92 years as it faces challenges in its financial turnaround effort.

The decision aims to boost cash flow and reduce debt as it faces an opioid lawsuit from the Department of Justice.

Walgreens is suspending its quarterly dividend payments to stockholders as the company works to free up cash to reduce debt ...