Boots rejects takeover bid from KKR

Published: 12-Mar-2007

The board of Alliance Boots has rejected a takeover bid from private equity firm Kohlberg Kravis Roberts (KKR).

The board of Alliance Boots has rejected a takeover bid from private equity firm Kohlberg Kravis Roberts (KKR).

At £9.5bn the takeover bid was considered too low, Alliance Boots said, and did not take into account the attractive prospects, opportunities and synergies available to the company following its recent merger.

The saga may not be over yet; Boots' response seems to suggest that the Board would welcome higher bids for the company and the world is waiting for KKR to up its bid, or for other interested bidders to step up.

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