Boots suitors get more time to bid for £7 billion chain
Walgreens Boots Alliance is giving bidders more time to lodge final offers for Boots after the three remaining suitors requested more information on recent trading.
Boots’ US owners had initially requested binding offers by May 16 but is now expected to receive proposals later in the week.
Walgreens has been seeking £7 billion for the retailer, which includes more than 2,200 UK stores as well as operations in a host of other countries and private-label brands like No7.
Suitors expected to make final proposals include Asda owners, the billionaire Issa brothers, who have teamed up with private equity group TDR Capital in the bidding, Indian billionaire Mukesh Ambani’s Reliance Industries, which is working with private equity firm Apollo, and Sycamore.
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