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Future of UK high street giant in doubt as £7bn takeover talks at risk of collapse
The family lowered its offer after Sigma Healthcare withdrew, leaving Boots’ private equity owners with one remaining bidder.
- The £7 billion bid by the Weston family to buy Boots is at risk of collapsing after the family lowered their offer, which Sycamore Partners rejected, leaving takeover talks at a standstill.
- Sigma Healthcare's withdrawal in June left the Westons as the sole suitor for Boots; the Canadian side of the family's empire is now leading these acquisition talks.
- "They tried to knock down the price after realising they were the only show in town," a source told The Telegraph, noting owners say they "won't sell at any price."
- Boots operates approximately 1,800 stores and recently appointed former Currys CEO Alex Baldock to lead the company this autumn while continuing cost-cutting efforts as a standalone business.
- If sale talks fail, Sycamore will revive plans to float Boots on the London Stock Exchange next year; the Westons previously sold Selfridges for £4bn in 2022 after owning it nearly 20 years.
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Total News Sources24
Leaning Left1Leaning Right0Center23Last UpdatedBias Distribution96% Center
Bias Distribution
- 96% of the sources are Center
96% Center
C 96%
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