Banks said hesitant to fund potential purchase of Boots unit from Walgreens
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Banks are said hesitant to finance a buyout of UK drugstore chain Boots from Walgreens (NASDAQ:WBA) during the current market volatility. Walgreens fell 1.7%.

Of two rival bidding groups, one led by Britain's billionaire Issa Brothers and TDR Capital, made a non-binding offer for Boots last week, according to a Bloomberg report. Another group, backed by Apollo Global (APO) and Indian tycoon Mukesh Ambani, may make a bid this week if the consortium can secure 3 billion pounds $3.8 billion of senior debt to finance the deal.

Walgreens (WBA) has delayed the deadline for bids for the Boots unit past the original May 16 deadline, according to the report. It's not clear when the new deadline is.
Sky News reported last month that fewer than a handful of bids were expected to be made at a deadline as some interested buyers were deterred by Walgreens (WBA) price expectations as well as the current inflationary environment.