(Reuters) -Walgreens Boots Alliance is in talks to sell itself to private equity firm Sycamore Partners, according to a person familiar with the matter, as the pharmacy chain operator looks to go private with its shares sliding for about a decade.
Walgreens has been working with its advisers over the past few weeks and had also reached out to other potential buyers but is currently in talks with only Sycamore, the source said.
A potential deal is most likely to be signed by early next year, the source said.
Walgreens and Sycamore declined to comment.
Shares of the second-largest U.S. pharmacy chain operator were up nearly 23% in afternoon trading following the news.
The Wall Street Journal had first reported the news.
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