Boots’ owner has postponed plans for a potential IPO of the chain amid ongoing sales talks.
Walgreens Boots Alliance (WBA) is currently considering alternative options for the UK retailer and has engaged in informal talks with potential buyers, including private equity firms over the past few weeks, Bloomberg News reported.
Citing people close to the matter, the title said deliberations are ongoing and Walgreens has made no final decisions on Boots’ future ownership.
Last month, WBA revived its efforts to find a buyer for the high street retailer. The US giant is believed to be seeking a £7bn price tag for Boots, which has 2,200 stores and employs around 55,000 people.
Back in 2022 Walgreens attempted to sell the 172-year-old health, beauty and pharmacy chain but later abandoned the process after suitors failed to meet its asking price, which was thought to be around £7bn.
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Last November, Boots sold its pension scheme to Legal & General in a £4.8bn deal, in a move thought to make it easier to sell.
During 2023, it also revealed plans to close 300 UK stores over the next 12 months as it sought to “consolidate” the business via a transformation plan.
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