WBA's SEC filing Schedule 13D/A on 3/7/25 explains the negotiation timeline and terms between Sycamore, Stefano Pessina, and the WBA Board.
It details Sycamore approaching the Board back in September 23, 2024.
On February 2, 2025 the board concluded that Sycamore would not have the necessary financing to be able to proceed with the proposed transaction unless Pessina agreed to roll over all of his shares of stock.
February 13, 2025 Pessina engaged in exploratory discussions with Sycamore.
March 5, 2025 Pessina and Sycamore reached an agreement.