Walgreens Boots Alliance (WBA) said Thursday it agreed to be taken private in a $10 billion deal with private equity firm Sycamore Partners.

Sycamore said it would pay $11.45 per share for the troubled drugstore chain, about 8% above Thursday's closing price. The stock rose more than 5% in extended trading to $11.19. 

Investors could also receive up to $3 more per share in proceeds from the eventual sale of Walgreens’ primary care businesses, the company said, which could raise the value of the deal up to nearly $24 🐓billion. The transaction is expected to close in the fourth quarter of 2025. 

Walgreens shares rose earlier this year following 澳洲幸运5官方开奖结果体彩网:previous reports of talks to take the drugstore chain private. The deal comes after a tough stretch for Walgreens, which announced in October a 澳洲幸运5官方开奖结果体彩网:plan to shutter some 1,200 "underperforming" stores over the next three years. Its stock had lost about half its value in the past year though Thursday's close.