- Admin
- #1
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 8 billion pounds ($10.88 billion), two sources told Reuters. The sale will see U.S. drugstore giant Walgreens, which has backed Boots since 2012, cashing out from one of Britain's best-known retailers operating more than 2,200 stores and employing about 51,000 people. It will also lead to the dismantling of the Walgreens Boots Alliance (WBA), which was set up in 2014 when Walgreens took full control of the health and beauty chain, creating a global behemoth with overall revenues of $132.5 billion in 2021.