Nov 12, 2019

Boots' parent firm Walgreens 'gets record buyout offer'

Boots' parent company, Walgreens Boots Alliance, has reportedly received a buyout offer from private equity group KKR, which, if it goes through, would be the biggest of its kind on record. KKR sold its final shares in Walgreens from a previous buyout three years ago. Stephen Scwarzman, chief executive of equity group Blackstone, said last week any deal to buy Walgreens would be a "Stretch" in current market conditions. Walgreens has a reported market value of about $56bn and is nearly $17bn in debt. As part of that process, Boots announced in June that it will shut 200 shops across the UK. Neither Walgreens nor KKR has commented on the reports.

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