The American owner of Boots is stepping up efforts to find a buyer for the British pharmacy chain.
Walgreens Boots Alliance is working with consultants to enter into talks with companies that could bid for the retailer, Bloomberg reported.
The Americans are believed to want £7bn for this High Street stalwart.
Plans being considered also include listing Boots on the London stock exchange. This would be a big boost for the City amid concerns about the health of the London market.
A previous attempt to sell the 174-year-old company was shelved two years ago.
For sale: Walgreens Boots Alliance is working with consultants to enter into talks with companies that could make a bid for the high street pharmacy chain.
Earlier this year, Tim Wentworth, CEO of Walgreens Boots Alliance, said he was “evaluating all strategic options” to “drive sustainable long-term value for shareholders.”
In 2022, Walgreens abandoned a sale after blaming an “unexpected and dramatic change” in market conditions.
Private equity giants Apollo, TDR Capital and Sycamore made proposals, but Walgreens later said no one made a suitable offer.
There are now more favorable conditions, with inflation in decline and interest rate cuts in perspective.
If Boots, which began as a family-run herbal medicine shop in Nottingham in 1849, were to return to UK markets, it would be a desperately needed vote of confidence.
There have been concerns about the attractiveness of the London market as companies shift listings to New York or become takeover targets due to their low valuations.
Walgreens, which is publicly traded in the United States, bought the pharmacy in 2014.
But it has come under pressure to sell Boots and focus on its US business.
Boots boss Sebastian James praised the “positive momentum across the business” in March when it recorded excellent Christmas sales.
Sales during the three months to the end of February were 3 percent higher than a year earlier thanks to celebrity-endorsed skincare products.
Last November, Boots sold its pension scheme to Legal & General for £4.8bn, paving the way for a potential takeover.
The deal on the pension plan, which was one of the largest of its kind, means it will now be easier to sell.
