Walgreens Seeks £7bn for Boots as Issas Consider Walking Away
- Issa brothers considering dropping out of Boots bid due to disagreement on price
- Walgreens seeking £7bn for Boots while bidders hope to pay around £5bn
- Two main suitors left vying for Boots: Issa-TDR consortium and Reliance Industries-Apollo Global Management
The Issa brothers, owners of Asda, are reportedly on the verge of withdrawing from their bid to acquire Boots due to a disagreement over the price. Walgreens has been attempting to sell Boots for approximately £7bn, while bidders hope to pay around £5bn. The Issas teamed up with private equity firm TDR Capital to buy Boots, but they are considering walking away as Walgreens Boots Alliance was looking for multiple bidders to drive up the price. The UK’s largest pharmacy and beauty retailer, Boots, recorded sales of £105bn in the year ending August 2021. The Issas previously partnered with TDR to buy Asda in 2020 for £6.8bn.
Factuality Level: 7
Factuality Justification: The article provides relevant information about the potential withdrawal of the Issa brothers from a Boots takeover bid due to disagreement over price. It also mentions the involvement of other bidders and some background details about Boots’ sales and previous acquisitions by the Issa brothers. However, it could provide more context on Walgreens Boots Alliance’s perspective or additional information about Apollo Global Management and Reliance Industries’ bids.
Noise Level: 3
Noise Justification: The article provides relevant information about a potential business deal falling through due to disagreement on price. It does not contain any irrelevant or misleading information and stays focused on the topic. However, it lacks in-depth analysis, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Boots’ potential sale impacts the pharmacy and retail sectors.
Financial Rating Justification: The article discusses a bid for Boots, a major pharmacy and beauty retailer, which would have financial implications on its owner Walgreens Boots Alliance and potentially impact the financial markets through the sale of the company.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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