Boots UK received a takeover approach from Bain Capital more than two months ago that started the potential sale of the British high street chain.
It is understood that Bain is positioning itself as a frontrunner in a forthcoming auction for Boots after completing months of due diligence on the health and beauty retailer.
The firm has sounded out a handful of retail industry veterans about chairing Boots should it be successful. A Bain Capital spokesman declined to comment.
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Source: The Times