Asda, Issa Brothers, TDR Capital, and Apollo Global Management among potential suitors

  • Deadline set for final bids on May 16
  • Walgreens Boots Alliance looking to offload Boots due to economic issues affecting valuation up to £7bn
  • Asda, owned by Issa Brothers and TDR Capital, and Apollo Global Management among potential suitors
  • American private equity firms Apollo and Sycamore Partners previously submitted non-binding bids

Walgreens Boots Alliance (WBA) has set a deadline of May 16 for final bids on the potential sale of Boots, as economic issues threaten its valuation at up to £7bn. Among the potential suitors are Asda, owned by Issa Brothers and TDR Capital, and Apollo Global Management. Some interested parties were deterred by WBA’s price expectations and cost pressures expected to impact Boots’ financial performance. Previously, American private equity firms Apollo and Sycamore Partners submitted non-binding bids after prospective bidders had until the end of February to submit their initial offers. Boots operates 2,200 stores in Britain and employs around 55,000 people.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the deadline for final bids, the owner of Boots, the potential suitors, and the current price tag. It also mentions the economic issues affecting the valuation and the number of stores and employees. However, it lacks some details on the specific reasons behind Walgreens Boots Alliance’s decision to offload the business and the exact reasoning for potential bidders being deterred.
Noise Level: 3
Noise Justification: The article provides relevant information about the deadline for final bids for Boots and potential suitors, but lacks in-depth analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or new knowledge.
Financial Relevance: Yes
Financial Markets Impacted: Walgreens Boots Alliance, potential suitors such as Asda, TDR Capital, Apollo Global Management, and other private equity firms
Financial Rating Justification: The article discusses the sale of Boots, a major company with significant financial implications for its owner Walgreens Boots Alliance and potential buyers. It also mentions economic issues like inflation affecting the valuation and financial performance of the business.
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.

Reported publicly: www.retailsector.co.uk