Walgreens Boots Alliance (WBA), the owner of Boots, is rumoured to be finally closing in on an US$10bn deal to be taken private.
The US pharmacy chain is allegedly nearing final negotiations for a takeover by American private equity firm Sycamore Partners, according to a report by The Wall Street Journal.
Both parties are aiming to reach an agreement as soon as possible, added the report.
Sycamore Partners is known for its focus on retail and consumer investments.
News of a potential deal between the two companies first emerged last year, but since then WBA has faced challenges across its US pharmacy operations.
The company revealed in October 2024 it was set to shutter 1,200 Walgreens stores in the US over the next three years after its losses widened.
Boots, however, maintained a strong performance in the company’s financial results throughout 2024.
This year, it has reported a strong start, with bumper retail sales during the first quarter.
WBA operates more than 2,000 Boots stores in the UK and what will happen to the health and beauty retail chain post-sale remains unclear.