By Scott Kanowsky 

Investing.com — Private equity giant Apollo Global Management (NYSE:) and Indian business tycoon Mukesh Ambani’s Reliance Industries Ltd (NS: ) has partnered up with three people familiar to the matter to submit a binding offer for U.K. drugstore chain Boots.

Walgreens Boots Alliance Inc (NASDAQ) is the parent company of Boots. A minority share would also be allowed.

Two of the sources also told the paper that the deal would value the company between £5 billion and £6 billion.

Apollo and Reliance also plan to grow Boots’ Asian business, according to the FT.