Australia’s Sigma drops out of talks to buy UK’s Boots

End of discussions on takeover estimated at $10bn extends uncertainty for 177-year-old British chain

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The Australian pharmaceutical group Sigma Healthcare has dropped its pursuit of the UK retail chain Boots, abandoning a takeover estimated to be worth $10bn (£7bn).

Sigma, a wholesaler and retailer, said on Monday that a deal ​to by the high street pharmacy business – which has 1,800 UK stores – would not meet its strategic ‌and capital investment objectives.