According to Bloomberg, sources familiar with the matter stated that Walgreens is reconsidering its plans for an initial public offering of Boots. Instead, the company is evaluating whether it wants to retain ownership of the chain at all.
“In recent weeks, Walgreens has continued its informal talks with potential buyers of the business including private equity firms, some of the people said,” Bloomberg reported, noting Boots could be valued at around $8.9 billion. The news outlet reported in May that Walgreens was considering a Boots sell-off.
A spokesperson for Walgreens told Bloomberg the company is “conducting a strategic review of our assets to drive sustainable long-term shareholder value” and that all options are on the table.
Boots, based in the United Kingdom, merged with Alliance UniChem in 2006 to form Alliance Boots. Deerfield, Ill.-based Walgreens acquired a 45% stake in the company in 2012 before fully merging with the company in 2014 to create Walgreens Boots Alliance.
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