Walgreens contacting potential buyers for Boots - report
By Michele Maatouk
Date: Monday 13 May 2024
(Sharecast News) - Walgreens Boots Alliance is reportedly reaching out to potential buyers of the £7bn ($8.8bn) Boots chemist chain.
Bloomberg cited people familiar with the matter as saying that Walgreens is working with advisers to hold early-stage discussions with would-be bidders.
No formal sale process has begun, they said.
A Walgreens representative declined to comment to Bloomberg.
Bloomberg reported in December 2023 that Walgreens revived discussions on a potential exit from the UK chain, almost 18 months after scrapping a planned sale.
Boots could be valued at about £7bn in an exit, with one possibility being an initial public offering in London, Bloomberg reported at the time.
At 1555 BST, the shares were up 7.2% at $18.43.
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