Boots Owner Walgreens Revives Talks on £7 Billion Exit (3)

The owner of Boots is reviving discussions on a potential exit from the UK pharmacy chain, nearly 18 months after a sale process was scrapped, people with knowledge of the matter said.

Walgreens Boots Alliance Inc. has been holding early talks about ways to separate Boots, which could be valued at about £7 billion ($8.8 billion), according to the people. It’s studying a London initial public offering as one possibility, the people said.

Shares of Walgreens jumped as much as 2.9% on Tuesday, hitting the highest intraday level in two months. The shares closed down 0.3% in New York trading, ...