Could a £10.5bn deal mean high street chemist Boots becomes latest US takeover?

Could Boots the chemist, which first opened its doors in Nottingham in 1849, become the next British firm to undergo a takeover by a big American corporation?

Speculation has been mounting that the US’s largest drug retailing chain, Walgreens, could be looking to buy the chain in a rumoured £10.5bn deal, the Daily Mail reports.

Walgreens already own a 45% stake in the British pharmacy chain, which it bought last year, and could be looking to snap up the rest of the business in February in order to use the company’s base in Britain as a means of reducing its vast US tax bill.

This is not the first time that Boots has been bought by a US company. In 1920, Jesse Boot, the son of founder John Boot, sold the business to the American United Drug Company. But the business was then resold to British hands in 1933.

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Readers' comments (1)

  • I think you will find that is no longer a British company already. If I remember I think it relocated to a more tax friendly environment called Switzerland :-)

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