The owner of Britain's biggest chemist Boots, which started out in Nottingham, is exploring the idea of selling the business, and it could be valued at more than £5bn.
Sky News reports the process is currently exploratory and might not end up in the sale of the chemist.
But it's understood Walgreens Boots Alliance (WBA) is looking for a review of options that could result in new owners, with Wall Street bank Goldman Sachs said to be lined up for advice.
It's also thought there is the possibility of spinning Boots off into a separately listed company.
Boots is one of the county's biggest private sector employees, with 55,000 workers operating across 2,200 stores.
In a statement issued to Sky News, the company said: "Walgreens Boots Alliance (WBA) does not comment on market speculation and Boots is an important part of the Group.
"However, it is accurate that WBA announced a renewed set of priorities and strategic direction for the Group in October, which includes a more pointed focus on North America and on healthcare.
"As underlined during the last WBA investor conference, the Group continues to be very pleased with the performance of Boots and the International division as a whole."
The company added that Boots UK is continuing to expand its healthcare offering, while its online operation 'continues to grow above expectations having more than doubled sales when compared to pre-pandemic levels'.
It's thought that because of a rented store estate with many shops tied to long-term leases and the changing nature of consumer behaviour, it will be complicated to value the business.
But according to Sky News, one analyst valued Boots between £10bn and £12bn, whereas another source of theirs thought the likely valuation would be closer to half that range.
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