Walgreens contacts potential buyers for its Boots UK chain, Bloomberg News reports

Walgreens declined to respond to a Reuters request for comment. The company had revived discussions on separating Boots, according to a Bloomberg report late last year, which included the possibility of an initial public offering in London. However, in 2022, Walgreens had scrapped preliminary plans to sell the unit.

Walgreens Boots Alliance is in the process of contacting potential buyers to sell its UK-based Boots drugstore chain in a second attempt at separating the unit, Bloomberg News reported on Monday, sending its shares up 6%.

The company, worth about 7 billion pounds ($8.78 billion), is working with advisers to conduct preliminary discussions with prospective bidders, the report stated, citing people familiar with the development. Walgreens declined to respond to a Reuters request for comment.

The company had revived

discussions on separating Boots, according to a Bloomberg report late last year, which included the possibility of an initial public offering in London. However, in 2022, Walgreens had

scrapped preliminary plans to sell the unit. ($1 = 0.7970 pounds)