Pharmacy and beauty chain Boots is in talks with an Australian rival and the billionaire Weston family over a potential £7.5 billion sale.
Australian pharmacy group Sigma Healthcare confirmed on Wednesday that it has held “preliminary discussions” over a takeover.
The company stressed to shareholders that there is “no certainty” any transaction will take place.
It followed a report by the Financial Times that the UK-based pharmacy and beauty chain could opt for a 10 billion US dollar sale over a potential stock market listing.
It said Boots had also held talks with the Canadian branch of the billionaire Weston family, which owns the majority of grocery chain Loblaws.
The Weston family’s British side is the majority owner of Primark through its parent firm Associated British Foods, which also owns grocery brands including Twinings and Ryvita.
It is understood that talks with both potential suitors are at an early stage.
The potential sale comes only a year after Boots was snapped up by private equity firm Sycamore Partners after the US investment giant acquired parent firm Walgreens Boots Alliance for 23.7 billion US dollars.
In August last year, Sycamore split off Boots from the US operations.
The new UK-based Boots business included Boots UK and Ireland, Boots opticians, No7 Beauty company and pharmacies in Thailand, Mexico and Germany.
It is understood that Sycamore is still considering a potential initial public offering (IPO) for Boots on the London stock market.
However, a private sale would deal a fresh blow to the London Stock Exchange amid a dearth of new major listings in recent years.
