Consequently, WBA has decided that it is in the best interests of shareholders to keep focusing on the further growth and profitability of the two businesses.Ĭhief Executive Officer, Rosalind Brewer, said: “We have now completed a thorough review of Boots and No7 Beauty Company, with the outcome reflecting rapidly evolving and challenging financial market conditions beyond our control.Īerial view of Boots' headquarters in Beeston ![]() However, since launching the process, the company state the global financial markets have suffered "unexpected and dramatic change".Īs a result of market instability severely impacting financing availability, WBA says no third party has been able to make an offer that "adequately reflects the high potential value of Boots and No7 Beauty Company". WBA says it has been encouraged by discussions held with a range of parties and received significant interest from prospective buyers. Rumours also circulated that the owners of Asda, the Issa brothers, withdrew their bid to buy the company over a dispute over the price.īoots stops questions about takeover bid as chancellor visits - read more here. However, Walgreens announced on Tuesday, June 28, that it would not be selling Boots, despite all the recent speculation. In April, billionaire Mukesh Ambani’s firm Reliance Industries started working with Apollo Global Management on a potential move. The company remains one of the county's largest private employers and the largest company based in Nottinghamshire. Roughly 8,500 people work for Boots in Nottingham and its headquarters is based in Thane Road, Beeston. The decision comes after one of India’s richest men joined forces with a US private equity firm for the Beeston-based employer. Walgreens Boots Alliance has decided not to sell the company despite a takeover bid worth a reported £5 billion being launched earlier this year.
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