New York investor joins £6bn race to buy Boots
Boots, the Nottingham-based high street chemist chain, has a new suitor in the £6bn race to buy the firm.
Apollo Global Management, the New York-based investor, is said to be lining up banks ready to make a bid.
Sky News says that Bank of America, Credit Suisse and Royal Bank of Canada are among the banks ready to finance a mega-deal.
Apollo has been linked with possible deals for other UK retailers in the past, including Marks & Spencer and J Sainsbury.
The move comes just weeks after a consortium including Bain Capital and CVC Capital Partners have decided against submitting a bid for the high street chemist giant.
The deal fell through because of the price expectations of the retailer’s owner, Walgreen Boots Alliance, said reports.
This leaves just Apollo and TDR Capital and EG regarded as serious bidders.
Apollo declined to comment.
