Walgreens said to be discussing sale of Boots

(Source: Bigstock)

Pharmacy retailer Walgreens Boots Alliance (WBA) has reportedly engaged in talks to sell its Boots business over the past few weeks.

WBA has been discussing with potential buyers, including private equity firms, Bloomberg reported. The company is still considering the options and has not made a decision on Boots’ future ownership.

The retailer is believed to be seeking a £7 billion ($8.9 billion) price tag for Boots.

Headquartered in Illinois, WBA operates the pharmacy chains Walgreens in the US and Boots in the UK. The firm was formed in 2014 when Walgreens bought the 55 per cent stake in Alliance Boots that it did not already own. 

In 2022, the company attempted to sell Boots but later abandoned the process after suitors failed to meet its asking price.

WBA swung to operating loss of $13.2 billion for the second quarter, while total sales were up 6.3 per cent to $37.1 billion.

Last year, Boots announced plans to close 300 UK stores as it sought to “consolidate” the business via a transformation plan.

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