Walgreens is said to start sales process for U.K. Boots chain
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Walgreens Boots Alliance (NASDAQ:WBA) is said to have started the sales process for its Boots chain in the U.K. after confirming it was considering selling the unit earlier this month.
The company sent out preliminary information to possible bidders ahead of first round bids expected in the coming weeks, according to a Bloomberg report. Private equity firm Sycamore Partners is said to be considering a possible offer along with other bidders previously reported. The Boots chain may be valued at as much as 7B pounds ($9.6B) in a sale. 
PE firms Bain Capital and CVC Capital are said to be teaming up to bid for a bid for the U.K. drugstore/beauty chain, Bloomberg reported earlier this month. 
The Time of London earlier this month reported that Bain Capital offered to buy the U.K. chain two months ago, which started a sales process. The PE firm is positioning itself as a frontrunner in the auction. Boots owns about 25% of its stores.
PE firms Carlyle, KKR, Advent International, and Clayton, Dubilier & Rice may also be considering a bid for the U.K. chain, according to the Times report. Supermarket chains may also pursue an acquisition.
Sky News first reported early last month that the pharmacy company was exploring a potential sale of its Boots chain in 2022.