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.

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