Sycamore Partners is nearing an acquisition of Walgreens Boots Alliance Inc., people with knowledge of the matter said, in a deal that could end the drugstore operator’s tumultuous run as a public company.

The Financial Times is reporting that Walgreens Boots Alliance would be split three ways if Sycamore Partners buys out the pharmacy chain.

Walgreens Boots Alliance shares are jumping in premarket trading Tuesday, on a report that the troubled drugstore chain is nearing a deal with Sycamore Partners to be taken private for around $10 billion.