Walgreens reheats plan to offload Boots with IPO an option - report
WALGREENS BOOTS
$9.07
11:24 08/11/24
-2.16%
-$0.20
US pharmacy giant Walgreen Boots Alliance is reportedly reheating plans to dump its UK chain Boots, with a potential London listing among the options.
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Walgreens abandoned a £5bn saleof Boots and its related No7 Beauty brand last year as interest rates surged and financial markets stumbled, with higher borrowing costs deterring potential buyers.
The company, which is reportedly in early talks about the future of Boots, now values the business at about £7bn, Bloomberg reported, citing unnamed sources.
US-listed Walgreens has been struggling with a plummeting share price over the last year. In November it struck a deal worth £4.8bn deal to offload the Boots pension scheme to Legal and General.
Reporting by Frank Prenesti for Sharecast.com