Shares in the US-based owner of Boots soared on talks of a takeover by private equity –raising fresh questions over the High Street pharmacy’s future. New York-listed Walgreens Boots Alliance, which owns the chain, as well as US group Walgreens, surged 11 per cent following a report that discussions were ‘alive’ with buyout group Sycamore Partners. The two firms have reportedly been discussing a takeover deal which could be completed early this year.
A sale is expected to result in parts of the business being sold by Sycamore, sparking speculation about the future of Boots. There are hopes that the chemist, which merged with Walgreens in 2014, could end up listing on the London stock market. This would revive the bourse after a dearth of listings. Anglo-Dutch consumer goods giant Unilever opted to list its ice-cream business in Amsterdam last week.
Boots is now one of the High Street’s ‘strongest brands’, according to Dan Coatsworth, investment analyst at investment platform AJ Bell. Boots-owner Walgreens Boots Alliance surged 11% following a report that discussions were ‘alive’ with buyout group Sycamore Partners. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
