Shares of Walgreens Boots Alliance Inc. have bounced sharply over the past few months, as reports that a buyout deal, followed by a breakup, have finally given investors something to cheer about.

Pharmacy chain Walgreens has agreed to be purchased by private equity firm Sycamore Partners. Premarket shares rose modestly.

Shares in Walgreens Boots Alliance, Inc. (Nasdaq: WBA) are up a modest amount after the company announced yesterday that it has agreed to be purchased by private equity firm Sycamore Partners.