PRIVATE equity firm Apollo and Indian conglomerate
The offer values the company at between £5bn and £6bn, sources close to the bid told two newspapers.
The bid marks the latest twist in
Earlier this year, a consortium made up of private equity titans CVC and Bain withdrew from the race after admitting they would only be willing to cough up £4bn for it. Analysts suggested the increased offer may be enough to see a deal done.
There remains speculation Walgreens may keep a stake in the company in the event of a sale, further increasing the appeal of any offer.
(c) 2022 City A.M., source