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Bond Market News

Reliance Planning Bid For Walgreen’s Boots: Sources

April 14, 2022

Reliance Industries Ltd (RIL) is said to be in early stages contemplating on a bid for Walgreens Boots Alliance’s international drugstore unit, as per sources Bloomberg News reported that Boots could be valued at £7bn ($9.1bn). The developments come on the back of Walgreens considering a potential IPO of Boots, which runs a chain of roughly 2,200 stores in the UK. Sources add that in whatever transaction goes through with Boots, Walgreen’s does intend to keep a minority stake. Regarding Reliance’s purchase interest, since deliberations are ongoing, there is no confirmation that a deal will go through.

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