The company plans to allow suitors a few extra days to firm up their bids, the people said, asking not to be identified because the information is private. Walgreens had initially requested binding offers by May 16 for the business, which includes the Boots chain in the UK, but is now expected to receive proposals later in the week, the people said.
Britain’s billionaire Issa brothers have teamed up with TDR Capital in the bidding, while Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. has partnered with Apollo Global Management Inc., people with knowledge of the matter have said. The sale has also attracted interest from retail-focused private equity firm Sycamore Partners, Bloomberg News has reported.
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