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.
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