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

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.

Walgreens Boots Alliance is nearing a deal to sell itself to private equity firm Sycamore Partners for around $10 billion. The transaction could be announced as soon as Thursday, according to people familiar with the matter.