Walgreens’ market value peaked at over $100 billion in 2015 but dropped below $8 billion in late 2024|Mike Mozart|CC BY 2.0

Walgreens is close to a $10 billion deal with private equity firm Sycamore Partners to go private. Talks could be finalized by Thursday, reports The Wall Street Journal.

Sycamore may pay $11.30–$11.40 per share in cash, with potential value increases if targets are met.

Walgreens’ market value peaked at over $100 billion in 2015 but dropped below $8 billion in late 2024.

The company has struggled with shrinking prescription margins, store closures and a Justice Department lawsuit over its opioid practices.

Sycamore reportedly plans to keep US retail stores but may sell other segments.