The Walgreens Boots Alliance Friday said the drug store chain is going private, acquired by private equity company Sycamore Partners in a $23.7 billion deal described as a "definitive agreement."

Sycamore Partners to acquire Walgreens Boots Alliance, Inc. for $23.7B. WBA stock up 7.3%. Click for my review of the deal and strategy for WBA shareholders.

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.