Walgreens Boots Alliance Inc ( WBA ) shares traded higher Monday following reports that multiple lenders are preparing to back a potential buyout from Sycamore Partners.

What To Know: Morgan Stanley, UBS and private lenders are reportedly putting together a $10 billion package to back Sycamore Partners’ potential takeover deal for Walgreens, according to a post from Octus on Monday.

Sources familiar with the matter said the deal could be separated into multiple tranches and nothing has been formalized yet.

Walgreens Boots Alliance ( WBA ) shares are up approximately 16% since the start of the year, buoyed by buyout rumors. Bloomberg reported last week that Walgreens shares were up after CNBC’s David Faber said the deal was still “alive” after being "mostly dead a couple of weeks ago.”

The news follows reports from December that indicated Walgreens was discussing a deal with Sycamore Partners in which the company would sell itself to the private-equity firm and pull the pharmacy chain from public markets.

Walgreens shares have been trending lower for the past 10 years. The stock was trading above $90 per share and valued at more than $100 billion in 2015. Walgreens had a market cap of $8.78 billion as of Monday's close, per Benzinga Pro.

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WBA Price Action: Walgreens shares closed Monday up 6.31% at $10.80, according to data from Benzinga Pro.