Boots owner WBA nears $10 billion takeover
Boots owner WBA is nearing a $10 billion deal to be taken private by American firm Sycamore Partners.
An agreement between Walgreens Boots Alliance and Sycamore Partners could be reached as soon as tomorrow (6 March 2025), according to The Wall Street Journal.
Walgreens Boots Alliance operates more than 2,000 Boots stores in the UK and a possible takeover could create uncertainty over the health and beauty retailer's future.
News of a deal first emerged in December last year, following WBA's previous attempt to go private in 2019. Since then, the company has faced challenges across its pharmacy operations.
It also comes after Walgreens Boots Alliance previously dismissed plans for a sale of Boots last June.
The company first explored the sale of Boots in 2022, putting the high street giant up for sale for £7 billion. This was later called off after failure to find a suitable buyer.
Reports suggested that the company revisited the idea of a sale or UK listing last year but were later dismissed by WBA with plans to "unlock value" of UK-based business.
Walgreens Boots Alliance was formed through the combination of Walgreens and Alliance Boots in 2014.
The transaction brought together two retail giants with "iconic brands, complementary geographic footprints, shared values and a heritage of trusted healthcare services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years".
