Walgreens drops plans to unload Boots due to inadequate bids


The Deerfield, Ill., pharmacy chain, which launched a review of its options for the businesses in January, said Tuesday that it received significant interest from prospective buyers but that market conditions put a severe crimp on financing availability for buyers. As such, no bidder was able to make an offer that adequately reflects the potential value of the businesses, the company said.

According to several published reports earlier this year, the planned sale of Boots, the biggest U.K. pharmacy chain, was expected to fetch upward of $7 billion.

Walgreens Drops Plans to Shed Boots – WSJ