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

Walgreens Boots Alliance Inc (NASDAQ: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.