Shares of Walgreens Boots Alliance (NASDAQ:WBA) were launched higher in Thursday’s premarket on reports that Sycamore Partners plans to break the company into three separate pieces after taking the entire company private.

Sycamore Partners is reportedly working with Morgan Stanley and UBS on a $10 billion financing package for a potential acquisition of Walgreens, per a MSN report that cited a posting on X from Octus, formerly known as Reorg.

The private-equity suitor is planning on splitting up Walgreens' U.S. and U.K. pharmacy businesses, as well as its specialty pharmacy unit, the Financial Times reports.