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Walgreens Is Said to Kick Off Boots Sale as Sycamore Joins Fray

  • Firm sending out info on U.K. drugstore chain to bidders
  • Walgreens is also considering potential listing of Boots
A Boots store on Oxford Street in London. 

A Boots store on Oxford Street in London. 

Photographer: Simon Dawson/Bloomberg

Walgreens Boots Alliance Inc. has kicked off the sales process for its Boots international drugstore unit as fresh buyout firms, including Sycamore Partners, consider bids, said people with knowledge of the matter. 

The U.S. company is sending out preliminary information on the business to potential suitors ahead of first-round bids due in the coming weeks, the people said, asking not to be identified because the information is private. Boots, which mostly operates pharmacies in Britain, could be valued at as much as 7 billion pounds ($9.6 billion) in a sale, Bloomberg News has reported