Walgreens going private in $24 billion deal

(CNN)– A well-known drugstore chain is going private in a potential billion dollar agreement.

‘Walgreens Boots Alliance’ closed a deal valued at nearly 24-billion dollars.

Thursday, March 6’s announcement comes after the company’s largely disastrous run on the public stock markets.

Over the past five years Walgreens’ shares have lost nearly 80% of their value.

The company says a private equity firm has agreed to pay more than 11-dollars a share in cash.

Walgreens first went public in 1927.

The deal brings an end to the chain’s nearly 100 years as a publicly-traded company.