Walgreens contacting potential buyers for Boots - report

13th May 2024 15:50

(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.