Boots recommending KKR bid
LONDON (Reuters) - The board of Alliance Boots, the pharmacy chain caught in a bidding war, reiterated on Friday it was recommending a $22 billion (11 billion pounds) offer by private equity firm KKR and its deputy chairman Stefano Pessina.
Alliance Boots said in a statement it would also continue to provide a second group of bidders, led by private equity firm Terra Firm, with high level due diligence including access to senior management.
A bidding war for the pharmacy chain broke out earlier on Friday when the two private equity firms put in competing offers as they vied to strike Europe's biggest leveraged buyout.
© Thomson Reuters 2009 All rights reserved.
Yuan and dollar slug it out
It's time for markets to take a deep breath: the yuan will not become a reserve currency, let alone dethrone the dollar, this year, next year or any time soon. Full Article
UK
US
Rebels blamed for Philippines blast