High Street

KKR makes £70bn buyout proposal for Walgreens Boots Alliance 

Walgreens Boots Alliance, the parent company of high street drug store chain Boots, has reportedly received a £70bn buyout offer from private equity group KKR.

According to reports the potential deal comes just three years after KKR sold its final shares in Walgreens from a previous buyout. If it were to go through, the transaction would be the biggest buyout deal on record.

Sources cited by the Financial Times claim that it is likely KKR would need to collaborate with other investors for a deal to happen. It also reported that the private equity firm is talking to some of its own investors on whether they have any interest in participating in the deal.

It is also believed that senior management at Walgreens would likely contribute in some way. However it is reported that no final decision has been made and either party may yet still walk away.

Walgreens has a reported market value of about $56bn (£43.6bn).

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