After Gautam Adani, now Mukesh Ambani is going to enter the health sector, he can soon complete a big deal. A consortium of Mukesh Ambani-owned Reliance Industries and US buyout firm Apollo Global Management is going to bid for Walgreens Boots Alliance. The consortium is in close proximity to the acquisition of Boots Company’s international chemist and drugstore units.
According to a report by Bullberg, Walgreens has prepared a report for the acquisition of Boots Alliance. Citing a source, the report said that the offer has valued the business at 5 billion pounds (about $6.3 billion). The consortium was in talks with global financial giants for funding. If the deal goes through, it will be Reliance’s biggest acquisition.
Billionaire Issa Brothers will step back
The prospects for the Reliance-Apollo consortium have increased after billionaire Issa brothers Mohsin and Zubair Issa have blocked a request to increase its takeover offer. Now it is believed that the deal of this company with the consortium is almost certain.
£7 billion demand
Regarding this matter, it is being said that Walgreens Boots is seeking valuations of about 7 billion pounds. The business operates a network of over 2,200 stores across the UK, as well as private-label brands such as No7 Beauty Company and operations in other countries. The highest bidder could be chosen next week, the report said.
Adani ready to buy shares in Metropolis Healthcare
Gautam Adani, the head of the Adani Group and the second richest person in the country, is preparing to buy a stake in Metropolis Healthcare. A Mint report said that Adani and Apollo Group are in talks to buy Metropolis and the deal could be worth around $1 billion.