Walgreens Is Said to Shelve Boots IPO as Sale Talks Progress (1)

Walgreens Boots Alliance Inc. has shelved plans for a potential initial public offering of its UK drugstore chain Boots, people with knowledge of the matter said, dashing hopes for a blockbuster listing to revive the fortunes of the London stock market.

The Deerfield, Illinois-based company is now exploring other options for Boots, according to the people. In recent weeks, Walgreens has continued its informal talks with potential buyers of the business including private equity firms, some of the people said.

Bloomberg News reported last month that Walgreens had reached out to potential buyers of Boots, which could be valued at ...