Summary
THE long-running private equity battle for Alliance Boots appears finally to be over after the Terra Firma consortium, led by British financier Guy Hands, pulled out of the bidding after rival Kohlberg Kravis Roberts (KKR) spent about GBP 1 billion taking its stake in the pharmacy group to almost 26 per cent.
KKR, which is bidding together with Stefano Pessina, the Alliance Boots deputy chairman, who owns 15 per cent of the business, bought 90 million shares in the past two days at GBP 11.39 - the new offer price now values the group at GBP 11.1bn. Terra Firma, whose consortium included Wellcome Trust, Britain's largest charity, and HBOS, had indicated it was willing to pay GBP 11.15 per share.See the full content of this document
Extract
Kkr's Gbp 11.1bn Wins Alliance Boots
Terra Firma said: "Boots is a critically important national institution, and we are naturally disappointed not...
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