The £7billion sale of Boots to the Weston family is reportedly in jeopardy after the family reduced its offer following the withdrawal of a rival bidder.
The deal between the billionaire Weston family, which has business in both the UK and Canada, and Sycamore Partners, Boots' private equity owner, is now at a standstill after the new cut-price bid was rejected.
New York-based Sycamore Partners acquired Boots parent company, Walgreens Boots Alliance, for $23.7billion last year, and has explored different options for the brand, including a potential London stock market listing.
The Times reports that if the Weston family do not up their offer, the sale option will take a back seat in favour of pursuing the public listing instead.
In May, it was reported Boots was appointing outgoing Currys Chief Executive Alex Baldock to lead it through a stock market floating worth a potential £7billion.
Baldock is expected to oversee the operations of Boots’ retail and pharmacy business in the UK, Ireland and Thailand, as well as Boots Opticians in the UK and the No7 beauty company.