Walgreens to go private in deal with Sycamore Partners

Walgreens Boots Alliance reached an agreement to be taken private through an acquisition.

Private equity firm Sycamore Partners agreed to pay nearly $10 billion in cash for the company. Assumption of debt and the possible payment of an additional $3 per share could bring the deal's value up to $23.7 billion.

Walgreens, which has 8,500 U.S. stores, reached its market capitalization peak in 2015 at $118 billion.

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