The Financial Times is reporting that Walgreens Boots Alliance would be split three ways if Sycamore Partners buys out the pharmacy chain.

Shares of Walgreens Boots Alliance (WBA) rose Tuesday premarket after the Wall Street Journal reported that Sycamore Partners was closing in on a deal to acquire the U.S. pharmacy chain for about $10 billion.

The US pharmacy chain is allegedly finally closing in on a deal with American private equity firm Sycamore Partners, after talks originally began last year

Boots could be sold off in an £8 billion deal following 300 store closures across high streets up and down the UK. The recognised store could be handed over to a private equity firm by its owners Walgreens Boots Alliance,

Walgreens Boots Alliance is close to a $10 billion deal to go private with Sycamore Partners.

Sycamore Partners is nearing an acquisition of Walgreens Boots Alliance Inc., people with knowledge of the matter said, in a deal that could end the drugstore operator’s tumultuous run as a public company.

Drugstore chain Walgreens Boots Alliance Inc. is closing in on a roughly $10 billion deal to sell itself to Sycamore Partners, a private-equity firm, which would then take Walgreens private and likely break it up,

Walgreens is one of the most well-known drugstore chains in the U.S., having become American families' go-to place to obtain prescription and non-prescription medication since 1901. From opening the first Walgreens location nearly 124 years ago to inventing the first malted milkshake in 1922 and going public in 1927,