In News

Follow this topic

Bookmark

Record learning outcomes

Plans for a $10bn (£7.4bn) takeover of Boots UK by the Anglo-Canadian family that owns a majority stake in Primark are at risk of being abandoned, it has been reported. 

The Telegraph has reported that talks between Boots’ owners and the Canadian branch of the Weston family are at a standstill after the Westons submitted a “lower number” in their offer than was initially expected, according to a source.

This came after the Westons’ only rival for the Boots acquisition, Australian company Sigma Healthcare, abandoned its bid in June. 

The source told the paper that the deal “isn’t totally dead” but that the two parties are in “a stand-off”.

They added: “They tried to knock the price down after realising they were the only show in town.

“They came in with a lower number that was deemed unacceptable.

“The gap isn’t totally insurmountable. However, the owners won’t sell at any price.”

The Telegraph reported a City source as claiming the Westons had revised their offer in light of global economic instability as a result of the ongoing war between the US and Iran.

Sycamore Partners, the private equity firm that bought Boots in 2025 before spinning the UK entity off into a stand-alone company, may revisit plans for a stock market listing if the sale to the Westons falls through, it was reported.

Attempts by previous parent company Walgreen Boots Alliance to sell the British chain in 2022 stumbled after the bids it received were below its expectations.

In recent years, Boots has managed to buck the economic trend faced by the UK pharmacy sector as a whole, seeing growth in market share over successive quarters and posting a £261m post-tax profit for the 2024-25 financial year. 

High profile business decisions over the past several years have included divesting from hundreds of high street stores as well as investing in flagship stores with modernised beauty halls and the launch of a growing range of private services.