The Weston family’s attempt to take over pharmacy chain Boots from Sycamore Partners is at risk after they reduced their earlier offer of £7 billion.
The New York-based private equity firm is understood to have rejected Weston's revised bid, leaving negotiations over a possible takeover at a standstill, according to The Times.
The Canada-based Weston family is said to have lowered its offer after a rival suitor withdrew from the sale process.
Sycamore Partners had previously held discussions with several prospective buyers, including Australian pharmacy group Sigma Healthcare.
The Melbourne-based company withdrew from talks saying the deal would not align with its strategic priorities.
Sycamore Partners acquired Walgreens Boots Alliance, Boots’ parent company, for $23.7 billion in August 2025, and has been in discussions with several potential buyers since.
After the Sycamore takeover, former Walgreens Boots Alliance executive Stefano Pessina and his family had reinvested their interests in the group.
Pessina is now understood to hold a stake of almost 50 per cent in Boots and is reportedly unwilling to accept the Westons’ reduced valuation.
Sycamore is also weighing a possible London stock market listing for Boots, and had recently hired Alex Baldock as Chief Executive, who is due to join this autumn from Currys.
