Walgreens is said to set Thursday deadline for bids for Boots chain
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Walgreens (NASDAQ:WBA) is said to have set a Thursday deadline for bids for its U.K.-based Boots chain that could value the company at as much as 8B pounds ($10.9B). Walgreens gained almost 1% in premarket trading.
Asda owner TDR Capital and a consortium of CVC Capital and Bain Capital are expected to submit bids for Boots, according to a Reuters report.  Sycamore Partners, Advent International and Apollo Group (NYSE:APO) are also said to be among other bidders for Boots.
The latest report comes after Bloomberg said in late January that Walgreens was said to have started the sales process for its Boots chain in the U.K. after confirming it was considering selling the unit last month. The Times of London reported earlier this month that potential bidders for its Boots UK chain had until the end of the month to submit first-round bids.
PE firms Carlyle, KKR, Advent and Clayton, Dubilier & Rice may also be considering a bid for the U.K. chain, the Times of London has previously reported. Supermarket chains may also pursue an acquisition.