The Walgreens Boots Alliance Friday said the drug store chain is going private, acquired by private equity company Sycamore Partners in a $23.7 billion deal described as a "definitive agreement."

Investment firm Sycamore Partners has confirmed a binding agreement to purchase US healthcare and retail major Walgreens Boots Alliance (WBA) for $23.7bn. WBA shareholders will be compensated with $11.

Walgreens Boot Alliance said it will be acquired by private equity firm Sycamore Partners in a $10 billion deal. Sycamore has agreed to pay $11.45 per share in cash for the ailing pharmacy chain. The total value of the transaction is up to $23.7 billion. Impact of New Tariffs on Retail: Textiles and Apparel Sectors Brace for Higher Costs