Walgreens Boots Alliance approached with record-breaking buyout

Walgreens Boots Alliance has been formerly approached by U.S. private equity firm, KKR, with a buyout proposal, as reported by Cosmetics Business.

The deal, which is expected to reach US$70b, would be the biggest private equity buyout in history.

The announcement, made by Bloomerg earlier this week, triggered a 6% increase in Walgreens Boots Alliance shares, which have been steadily declining between January and October. 

The company’s umbrella includes U.S. drugstore chain Walgreens and Duane Reade, as well as pharmacy retailer Boots in the U.K.

According to sources, discussions are still ongoing and an offer has not been accepted.