Walgreens is reportedly contacting potential Boots buyers

Walgreens Boots Alliance Inc (NASDAQ: WBA) is gaining at writing following a report that it’s contacting buyers who may be interested in taking over Boots.

What is Boots UK worth?

The drugstore chain based out of Nottingham, United Kingdom is worth close to $9.0 billion. 

Walgreens has already engaged with advisors to hold preliminary talks with the potential buyers, added a Bloomberg report on Monday. 

What the Nasdaq-listed firm plans on doing with proceeds provided that it does indeed secure a deal remains unclear. Lowering the debt on its balance sheet, however, may be a possibility. 

Shares of Walgreens Boots Alliance that currently pay a healthy dividend yield of 5.47% are now down more than 30% versus the start of 2024.

Walgreens has been interested in unloading Boots since last year. 

In 2023, Legal & General agreed to buy Boots Pension Scheme for about $6.0 billion – a deal that simplified a possible divestiture of the drugstore chain. $WBA had also considered listing the business on the London Stock Exchange.

This is a developing story. Check back in a few minutes for more updates!

The post Walgreens is reportedly contacting potential Boots buyers appeared first on Invezz