6/28, 2:17 PM (Source: TeleTrader)
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Walgreens Boots Alliance won't sell Boots - report

Walgreens Boots Alliance Inc. will stop the auction process for its United Kingdom-based subsidiary Boots, Sky News reported on Tuesday, citing unnamed banking sources.

Participants in what looked like at least a £5 billion bidding war over the British pharmacy chain have experienced difficulties, as banks that would have helped finance a potential transaction had been concerned over a deal of that magnitude at a time when the globe is facing wider economic issues.

The £8 billion pension scheme was reportedly another obstacle for prospective buyers of Boots.

Baha Breaking News (BBN) / MS