It is the company’s second attempt at trying to sell this chunk of the business, and it is believed to be working with consultants to identify potential purchasers.

The cost of buying Boots is around £7bn, although WBA has yet to comment on the speculation about selling. It is believed that this sale would allow the company to concentrate on its US retail pharmacy operations and healthcare business in the future. These reports led to the WBA share price rising by over 5% during Monday’s trading.

Don’t miss out the latest news, subscribe to LeapRate’s newsletter

A previous attempt to sell the UK-based Boots segment came to nothing in 2022. However, at the end of 2023, it was suggested that WBA might try to separate this part of the company, with the idea of an IPO being one of the possible outcomes floated at that time. Adding Boots to the London Stock Exchange could be attractive for the market here, with concerns raised recently about the need for more high-quality companies to be added.

When reporting on their fiscal reports for 2024 Q1, Chief Executive Officer Tim Wentworth said:

WBA delivered fiscal first quarter results in line with overall expectations, reflecting disciplined execution in a challenging consumer backdrop.

He also pointed out that WBA is looking into all the possible strategic options that could drive shareholder value in the long term while confirming a 48% drop in the quarterly dividend payment to be paid.

The post WBA Looking for a Buyer to Take Boots off its Hands appeared first on LeapRate.