Australia’s Sigma Healthcare said on Monday it had walked away from preliminary talks to buy British pharmacy chain Boots, concluding that a potential deal would not meet its strategic and capital investment objectives.
The pharmaceutical wholesaler and retailer had said earlier this month that it was evaluating a possible acquisition of Boots following media reports that it was among the bidders for the UK health and beauty retailer.
Sigma said it had considered the opportunity as a way to accelerate its expansion in the United Kingdom through Boots’ established brand and extensive footprint but decided not to proceed following an initial review.
The company said international growth remains one of its key strategic pillars and reiterated its commitment to expanding in core offshore markets while exploring opportunities in new regions.
Reuters
