Is Bain making a bid for Boots?

THE WHAT? Bain Capital is rumored to have made advances to Walgreens Boots Alliance as a tentative first step towards purchasing its UK-based drug store chain, Boots, according to a report published by Bloomberg quoting Times of London as its source.

THE DETAILS WBA announced it would be conducting ‘strategic review’ of the pharmacy chain at the end of last year. If it decides to sell, Boots is expected to fetch upwards of £6 billion.

THE WHY? Both WBA and Bain declined to comment when approached by Bloomberg. The news outlet reports that Bain is keen to be in pole position should a sale go ahead; fellow private equity firms CVC Capital Partners, Carlyle Group, KKR, Advent International and Clayton, Dubilier & Rice are also said to have expressed an interest.