Walgreens Starts Boots Sale As Sycamore Joins Potential Bidders List: Bloomberg

Walgreens Boots Alliance Inc WBA has started the sales process for its Boots UK Limited as fresh buyout firms, including Sycamore Partners, consider bids, reported Bloomberg, citing people with knowledge of the matter. 

• The Company is sending out preliminary information to potential suitors ahead of first-round bids due in the coming weeks.
• Bloomberg has reported that boots could be valued at as much as £7 billion ($9.6 billion) in a sale. 
• Sycamore, private equity, has joined a small group of other buyout firms exploring bids.
• The business could also attract interest from TDR Capital and the Issa brothers, Bain Capital & CVC Capital Partners, who’ve teamed up and are considered early favorites.
• Related: Bain Capital Reportedly Eyeing Boots UK Takeover From Walgreens: Report.
• According to the report, Advent International and KKR & Co. are also studying potential bids.
• Walgreens is also considering a potential initial public offering of Boots if buyout interest is muted, the people said. 
• Price Action: WBA shares are down 0.52% at $50.20 during the premarket session on the last check Monday.