// Boots is being eyed by two major companies for a joint takeover
// Bain and CVC were being advised by bankers at Lazard
A joint bid has reportedly been placed on Boots by Bain Capital and CVC Capital Partners as they pursue a takeover of the health and beauty retailer.
Bain and CVC were being advised by bankers at Lazard on their interest in Boots, Sky News reported.
Boots trades from more than 2000 stores and employs over 50,000 people.
READ MORE: Boots owner raises full-year guidance as UK business booms
Dominic Murphy, who is a director of Boots’ owner Walgreens Boots Alliance (WBA), was an architect of the £11 billion takeover of Alliance Boots by KKR, the private equity firm he previously worked for, in 2007.
For Stefano Pessina, the WBA chairman, a decision to sell Boots would mark the final chapter of his involvement with the retailer.
In 2012, Walgreens acquired a 45% stake in Alliance Boots, completing its buyout of the business two years later.
It has also been embroiled in rows with landlords about delayed rent payments.
Shortly before the pandemic, Boots earmarked about 200 of its UK stores for closure.
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