Britain’s largest drugstore chain Boots has set a Feb. 24 deadline to receive indicative bids from a series of deep-pocketed investors that could value the 173-year old firm at up to $10bn, two sources told Reuters.
Valued at 6 billion to 8 billion pounds, Boots is being sold as part of an auction process led by Goldman Sachs and targeting financial investors with a track record of turning around high street retailers, the sources said, speaking on condition of anonymity as the matter is confidential.
Private equity firm TDR Capital, which owns supermarket chain Asda, is working on a bid plan to secure control of Boots and integrate it into Asda’s stores, which already operate a limited network of UK pharmacies, the sources said.
Read more: Reuters
