Boots' US owners have agreed a deal with private equity firm Sycamore Partners as the struggling retailer looks to turn around after years of losses.
On Thursday, Walgreens Boots Alliance said Sycamore would pay $11.45 (£8.89) per share, giving the total deal value of just under $10bn (£7.76bn).
Under certain conditions, shareholders could end up receiving up to an extra $3 (£2.33) per share.
Privatizing the chain will give it more freedom to make the changes needed to improve its business without fear of backlash from Wall Street.
The company is already making major changes to transform its business. Walgreens has been publicly traded since 1927.
Founded in 1901, Walgreens has faced rising prices in the U.S., persistent theft and inflation-sensitive shoppers looking for better deals elsewhere.
Walgreens is in the early stages of a plan to close 1,200 of its approximately 8,500 drugstores in the U.S.
The Illinois-based company has already lost about 1,000 stores in the U.S. since growing its operations to nearly 9,500 in 2018 after acquiring some Rite Aid locations.
Sourse: breakingnews.ie
