Australia's Sigma Healthcare has withdrawn from discussions to acquire Boots, the UK's largest pharmacy chain, ending talks that were reportedly valued at approximately $10 billion.

The Australian pharmacy group stated that a potential deal for the British drugstore chain would not meet its strategic or capital-investment objectives. The withdrawal marks the end of what had been significant takeover discussions for one of the UK's most recognizable retail brands.

Boots, which operates thousands of stores across the United Kingdom and is known for its pharmacy services and health and beauty products, has been the subject of acquisition interest from various parties. The chain has been a prominent fixture on British high streets for decades.

Sigma Healthcare's decision to step away from the talks suggests the companies were unable to reach terms that aligned with the Australian firm's business strategy and investment criteria. The specific details of the negotiations and the reasons for the breakdown were not disclosed by either party.

The failed acquisition attempt highlights the ongoing consolidation trends in the global pharmacy and healthcare retail sector, as companies seek to expand their market presence and operational scale across international markets.