05:48 PM EST, 03/06/2025 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) unveiled a definitive agreement late Thursday to be acquired by an entity affiliated with Sycamore Partners for up to $23.7 billion.

The price tag is based on a cash consideration of $11.45 per share and up to $3 per divested-asset-proceed right, plus net debt, capital leases, present value of opioid liability, and a settlement, Walgreens said. Walgreens will become a private entity and its shares will crease to trade on Nasdaq upon deal close.

The cash consideration represents a 29% premium, and the total consideration represents a premium of up to 63% to Walgreens closing share price of $8.85 as of Dec. 9, the day before media reported the deal.

The transaction has been approved by Walgreens' board and is expected to close in Q4, subject to certain approvals and customary conditions.