The American owner of Boots received a takeover approach from Bain Capital more than two months ago that started the potential sale of the British high street chain, The Times has learnt.
It is understood that Bain, the private equity firm that recently failed in its attempt to buy LV=, the insurer, is positioning itself as a frontrunner in a forthcoming auction for Boots after completing months of due diligence on the health and beauty retailer.
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The firm has sounded out a handful of retail industry veterans about chairing Boots should it be successful. A Bain Capital spokesman declined to comment.
Source: The Times
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