Boots owner Walgreens Boots Alliance has begun the formal sales process for the multiple by sending information to potential buyers, Bloomberg has reported.

WBA is reportedly sending out preliminary information in anticipation of initial bids in the coming weeks.

Possible bidders for the company, which at 2,200 stores is the largest pharmacy multiple in the UK, include Asda owners TDR Capital, as well as private equity firms Bain Capital and CVC Capital, which have prepared a joint bid.

According to Bloomberg, “private equity retail specialist” Sycamore is also exploring a buyout bid.

It is thought the multiple could sell for as much as £10bn, but a price tag between £6bn and £7bn is considered to be more likely.

WBA may explore a public sale if bids are not forthcoming, it has been reported.

Boots has been approached for comment.