Apollo, Reliance Industries consortium said to make binding offer for Boots

 

Reliance Industries (RIL)

Apollo, Reliance Industries consortium said to make binding offer for Boots

Apollo, Reliance Industries consortium said to make binding offer for Boots

A consortium of Apollo Global Management Inc. and Reliance Industries Ltd. has made a binding offer for Walgreens Boots Alliance Inc.’s international arm, people with knowledge of the matter said.

The investor group submitted a bid for the Boots drugstore chain this week that’s fully backed by committed financing, the people said, asking not to be identified because the information is private. 

Their proposal values Boots at more than £5 billion ($6.3 billion), one of the people said.