Walgreens could lose billions on Boots sale as previous potential buyers CVC and Bain lower valuation of the company

Walgreens could lose billions on Boots sale as previous potential buyers CVC and Bain lower valuation of the company

THE WHAT? Walgreens may be set to lose billions in the sale of Boots as previous suitors CVC and Bailn suggest a valuation of £4 billion, a huge drop from the £7 billion price tag it was hoping to command. 

THE DETAILS Having purchased Boots for £9 billion in 2014, Walgreens is now looking for £7 billion after divesting the wholesale arm. 

THE WHY? The Telegraph newspaper stated that with CVC’s UK head Dominic Murphy being a Walgreens board member with more than a decade of experience working with Bootshe ‘knows where the bodies are buried.”

Those lined up to make an offer on Boots include Asda-owners Zuber and Mohsin Issa, Apollo Global Management and Sycamore Capital.

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