Negotiations for the acquisition of Boots by the Weston family have stalled after the billionaire group reduced its offer for the pharmacy chain.
The development places the strategic plans of Monaco-based owner Pessina in jeopardy, as the revised terms appear insufficient to bridge the gap between the parties.
The potential £7 billion deal had been viewed as a significant consolidation move in the UK retail and healthcare sector.
The potential £7 billion deal had been viewed as a significant consolidation move in the UK retail and healthcare sector.
However, the reduction in the bid price signals a hardening of positions, with the Weston family unwilling to meet the valuation expectations previously discussed.
This standoff introduces immediate uncertainty regarding the future ownership structure of the Boots brand.
For investors, the stalling of talks suggests that a resolution is not imminent.