The owners of Asda could be on the brink of withdrawing their bid for Boots over a disagreement on price. The Issa brothers, who are teaming up with private equity firm TDR Capital to buy Boots, are reportedly reconsidering their bid after Walgreen - the owner of the pharmacy chain - asked for more money.
This would be a huge blow to Walgreens who were hoping to drum up interest from other competitors in the build up to the sale. The Issas' consortium was one of the two main suitors left vying for Boots, the other being Indian billionaire Mukesh Ambani's Reliance Industries and US private equity titan Apollo Global Management.
Back in January, 2022, it was reported that the Blackburn-born brothers were considering a takeover bid for Boots worth up to £10 billion. The future of the high street giant, headquartered in Beeston, has been subject to speculation over its sale throughout the past few months.
