// Boots owner Walgreens Boots Alliance said IPO is still possible if takeover plans fall through
// WBA bosses have met with private equity firms in recent weeks to line up bidders
Boots owner Walgreens Boots Alliance (WBA) has said that an IPO is still on the cards for the health and beauty retailer if takeover plans fall through.
WBA chief operating officer, Ornella Barra said floating the chain as a standalone firm “is not off the table” if private equity firms don’t come up with a suitable bid.
Barra said an IPO had been the preferred initial approach to spin off the retailer but had been sidelined after interest from a number of buyout giants.
READ MORE: Boots takeover talks continue as Apollo lines up banks
“At the beginning we had the idea of an IPO, but we didn’t start the process because the offers came in,” she said.
“If the offers from private equity bidders are not in line with our expectations we could come back to an IPO.”
WBA bosses have met with private equity firms in recent weeks with suitors lining up to take over Boots. Investment giant Apollo Global Management looked to be in pole position with a £6 billion takeover bid.
Apollo is understood to be lining up banks including Bank of America, Credit Suisse and Royal Bank of Canada to fund a bid.
A new round of bids for Boots is expected early next month.
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