Walgreens Boots shareholders overwhelmingly approved a $10 billion sale to private equity firm Sycamore Partners, a fraction of the $100 billion the business was worth a decade ago.WHO: Walgreens Boots Alliance (WBA) operates approximately 12,500 stores across the US, Europe, and Latin America, including 2,000 Boots stores in the UK. It employs about 312,000 people, with a presence in eight countries and consumer brands including: Walgreens, Boots, Duane Reade, No7 Beauty Company, and Benavides. IN THEIR OWN WORDS: “We appreciate the consideration and overwhelming support from our shareholders in our value-maximizing transaction with Sycamore,” Walgreens Chief Executive Officer Tim Wentworth said after the shareholder vote was disclosed. “With Sycamore’s partnership, we will be better positioned to accelerate our turnaround strategy, further enhance the customer, patient and team member experience and become the first choice for pharmacy, retail and health services. We look forward to closing the transaction and entering this next chapter.”DETAILS:Walgreens Boots Alliance shareholders approved a $10 billion private equity buyout by private equity firm Sycamore Partners.Sycamore Partners will pay $11.45 a share in cash. Shareholders could also receive an additional $3 a share in cash from future monetization of the company’s debt and equity interests in VillageMD.Sycamore is expected to consider a sale or spin-off of Boots, which is one of the group’s best-performing assets.Earlier this year, WBA suspended its quarterly dividend for the first time in 92 years.WBA’s quarterly profit and revenue beat Wall Street’s expectations.