US pharmacy giant Walgreens has dropped plans to sell Boots, saying that buyers were unable to raise enough funds due to the instability in financial markets.
Walgreens said it had various offers for the pharmacy business after it put Boots up for sale in January.
It said that none of the offers reflected the high potential value of the UK pharmacy chain.
Walgreens has moved away from plans to offload Boots after an unexpected change in the financial markets.
As a result of market instability and high potential value of Boots and No 7 Beauty Company, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No 7 Beauty Company, it said.
Rosalind Brewer, Chief Executive of Walgreens Boots AllianceBoots Alliance, said: We have completed a thorough review of Boots and No 7 Beauty Company, with the outcome reflecting rapidly evolving and challenging financial market conditions beyond our control.