Walgreens Boots Alliance is in talks to sell itself to private equity firm Sycamore Partners, according to a person familiar with the matter, the latest attempt by the pharmacy chain operator to go private after a sharp slump in share value.

The New York-based private equity firm has been having ongoing discussions about a deal to take Walgreens private, according to people familiar with the matter.

Following the report, shares of the pharmacy giant jumped 18%, the largest one-day boost in Walgreens' history.