Tags: walgreens | boots | sale

Walgreens Contacts Potential Buyers for Boots UK Chain

Walgreens Contacts Potential Buyers for Boots UK Chain
(AP)

Monday, 13 May 2024 12:03 PM EDT

Walgreens Boots Alliance is in the process of contacting potential buyers to sell its UK-based Boots drugstore chain in a second attempt at separating the unit, Bloomberg News reported Monday, sending its shares up nearly 5%.

The company is working with advisers to conduct preliminary discussions with prospective bidders for the unit, worth about 7 billion pounds ($8.78 billion), the report stated, citing people familiar with the development.

Walgreens declined to respond to a Reuters request for comment.

"From a strategic perspective, this makes sense to us as it would enable Walgreens to focus on its core U.S. Retail Pharmacy operations while also managing the U.S. Healthcare business, Leerink Partners analyst Michael Cherny said in a note.

In 2022, Walgreens had scrapped preliminary plans to sell the unit. However, it revived discussions on separating Boots, including the possibility of an initial public offering in London, according to a Bloomberg report late last year. ($1 = 0.7970 pounds)

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Walgreens Boots Alliance is in the process of contacting potential buyers to sell its UK-based Boots drugstore chain in a second attempt at separating the unit, Bloomberg News reported Monday, sending its shares up nearly 5%.
walgreens, boots, sale
157
2024-03-13
Monday, 13 May 2024 12:03 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved