 Boots has been squeezed by the supermarkets |
Six bidders have submitted offers for the over-the-counter medicines division of UK retailer Boots, according to media reports. Sale of the unit, which markets such well-known brands as Strepsils and Nurofen, is expected to net struggling Boots about �1.4bn ($2.47bn).
The firms said to have made final offers are led by the UK's GlaxoSmithKline and Reckitt Benckiser.
They are joined by foreign firms Bayer, Pfizer, Johnson & Johnson and Novartis.
Tough trading
Glaxo and Reckitt are said to be the front runners.
Boots first announced the planned sale of the unit back in April.
Reporting falling group sales this week, it said the sale of the over-the-counter medicines division was progressing according to plan.
The Nottingham-based company has been hit by tough trading conditions on the UK High Street and fierce competition from the supermarkets.
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