Nottingham-based pharmacy and healthcare business Boots could soon be owned by the eighth richest man in the world. A bid is rumoured to have been launched for the business together by Indian billionaire Mukesh Ambani and US private equity giant Apollo Global.
Mr Ambani's Reliance Industries is working with New York-based Apollo on a deal that could see the high street chemist open in India and across Asia, according to the Financial Times. It is unclear how the company would be split up within the bid, but sources have told FT that he 65-year-old would take a stake in Boots alongside Apollo.
The battle to buy the 173-year-old business rumbles on, with a winner unlikely to be announced before June, reports Business Live. Britain's biggest chemist has been up for sale since January as its owner, US giant Walgreens, looks to increase its focus on US healthcare.
