Issa Brothers, TDR could drop out Boots takeover bid

Zina Fragkiadaki
May 27, 2022
M&A

Issa Brothers and TDR Capital, a consortium backed by the billionaire Issa brothers are considering dropping out of the bidding for the Walgreens Boots Alliance’s pharmacy and retailer Boots, according to Bloomberg.

The consortium could pull out based on price disagreements, the report said citing unnamed sources.

The consortium balked at a request by Walgreens to increase their offer for the Boots drugstore chain and are now thinking about walking away, according to the report.

Boots operates 2,200 shops and 550 opticians and employs around 51,000 people.

Walgreens is seeking £7 billion for the British drugstore chain. Goldman Sachs is running the sale process.

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