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.

Shares of Walgreens Boots Alliance (NASDAQ: WBA) rallied 7.6% on Tuesday, as of 2 p.m. ET. It appears that a take-private deal with private equity firm Sycamore Partners is getting closer to fruition,

Walgreens Boots Alliance (WBA) is reportedly nearing a $10 billion deal to go private through an acquisition from private equity firm Sycamore Partners, according to the Wall Street Journal. The drugstore chain's stock is seeing gains of 5% in Tuesday's pre-market trading.