Friday, August 12, 2022

Sale of Boots taken off the table

Walgreens Boots Alliance (WBA) has decided to keep Boots under its existing ownership, marking the conclusion of a review that began in January and saw multibillion pound bids put forward for the company.

WBA said that while it has been encouraged by productive discussions held with a range of parties, receiving significant interest from prospective buyers, since launching the process, the global financial markets have suffered unexpected and dramatic change.

As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots.

WBA has therefore decided that it is in the best interests of shareholders to keep focusing on the further growth and profitability of the business.

The decision to retain the business has also been supported, according to WBA, by ongoing strong performance and growth, which have exceeded expectations despite challenging conditions.

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