Apollo Global Management and Reliance Industries, an Indian conglomerate, have made a binding bid to acquire the high street chemist Boots which values the company at between £5B and £6B.
The investment group’s offer will allow Boots’ current owner, US retailer Walgreens Boots Alliance, to retain a minority stake in the firm.
It comes after Zuber and Mohsin Issa, the brothers who own Asda, pulled out of a deal to buy Boots alongside private equity firm TDR capital, after Walgreens rejected their initial valuation of the UK firm. Walgreens has reportedly put a £7bn price tag on Boots.
Read more: iNews
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.