The struggling drugstore chain operator said the deal is for $11.45 a share in cash, a 29% premium to its closing price on Dec. 9, before the first media reports of a potential tr

The deal will see Sycamore Partners pay Walgreens shareholders $11.45 per share as it takes the company private and attempts a turnaround. Shares in Walgreens Boots Alliance, Inc. (Nasdaq: WBA) are up a modest amount after the company announced yesterday that it has agreed to be purchased by private equity firm Sycamore Partners.

Walgreens Boots Alliance says it has agreed to be acquired by the private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money.