Boots bid deadline extended

Boots bid deadline extended

THE WHAT? Walgreens Boots Alliance has extended the deadline for bidders to submit their final offer for its UK pharmacy chain, Boots, according to a report published by Bloomberg.

THE DETAILS The company has given potential buyers a few days’ grace, says Bloomberg, quoting sources ‘with knowledge of the matter’. The deadline was set for May 16 originally.

Bidders are thought to include Reliance Industries, TDR Capital and Sycamore Partners.

THE WHY? With investors jumpy as the war in Ukraine continues, and recession looming in the UK on the back of soaring inflation, flexibility will be necessary if WBA stands a chance of securing the £7 billion it wants for the Nottingham-based high-street stalwart. A spokesperson for the company declined to comment when approached by Bloomberg.

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