Shares of Walgreens Boots Alliance have lost about half their value in the past year, as the chain has faced pressure in its retail and pharmacy businesses.

Walgreens said shareholders will get of $11.45 per share in cash, an equity value just under $10 billion, the Associated Press reported. "While we are making progress against our

Sycamore Partners, a private equity firm, will buy Walgreens Boots Alliance at $11.45 per share as Walgreens will go private for the first time in decades.

Walgreens Boots Alliance says it has agreed to be acquired by the private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money.

The US owner of high street chemist Boots says it will be taken private in a $10bn (£7.8bn) deal. The move brings to an end nearly a century of trading on public markets for the Walgreens Boots Alliance.

Walgreens Boots Alliance said private equity firm Sycamore Partners plans to pay its investors $11.45 (£8.86) per share.

Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money.