Entrepreneurs Mohsin and Zuber Issa, the owners of Asda, are considering acquiring health and beauty giant Boots which has been put up for sale by Walgreens.
The potential purchase of Boots would be the latest in a sting of acquisitions and has been discussed at senior levels inside Asda, the Mail on Sunday reported.
A deal would give grocery giant Asda, which primarily trades from big stores, a portfolio of 2,000 pharmacies in towns and cities.
Market leader Boots, which employs 50,000 people, could bring a price tag of as much as £10bn and discussions at Asda about whether to bid are thought to be at an early stage and may not proceed.
Plenty of interest to buy Boots
Boots is expected to generate interest among a variety of potential buyers. Private equity goups Bain Capital and CVC Capital Partners are understood to be considering a joint bid.
Others thought to be interested include Advent International, KKR and Clayton Dubilier & Rice, which recently acquired grocer Morrisons.
Walgreens is expected to distribute information on Boots to interested parties in the next few weeks. It is possible that Walgreens could ultimately decide to retain Boots, or alternatively list it in its own right on the stock market.
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