Despite volatile market conditions, a number of private equity firms are set to meet with British pharmacy chain Boots as the business"s owner Walgreens pushes ahead with a planned £7 billion ($9.2 billion) sale. According to reports, American private equity firms Apollo and Sycamore Partners are among the firms to have submitted non-binding bids for Boots. They will be competing against TDR Capital and the billionaire Issa brothers. Earlier, Bain Capital and CVC Capital were considered frontrunners to enter the auction. However, the sale of the health and beauty retailer was thrown into doubt as they declined to submit a first-round bid. A source close to Bain Capital revealed that its interest in Boots could be revived if Walgreens is willing to countenance a lower price. Founded in 1849, Boots has 2,276 stores in the UK, 90 in Ireland, and another 253 in Thailand.