Walking Boots

We will soon hear who has won the auction for Boots Healthcare International. Insider has just come off the phone from someone hanging on in there. Grim would be the word.
As is often the case, some employees have already walked......leaving their work to be picked up by those left behind. Others are clinging on; the Pharma Industry doesnt have many other options in that part of the UK (oop Norf).

So, down to the nitty gritty. Who and how much!

Who: GSK, the pharmaceutical giant, and Reckitt Benckiser, the cleaning products group, are believed to be among six bidders shortlisted. The others are understood to be Pfizer, the US healthcare giant, Johnson & Johnson, its fellow US rival, Novartis, the Swiss pharmaceuticals company, and Bayer, the German healthcare group.

How much: Its certainly going to be more than the £1.4 billion sanctioned by Bayers' board! What cheapskates! Look at the brands: Clearasil, Strepsils and Nurofen............

But is it just the highest bidder who will win? Boots have always cherished their "caring" image, especially towards their people. Could it be that an "asset stripping" higher offer by, say, GSK would be turned down in favour for a lower bid by, say, Reckitt Benckiser that included a promise to save more jobs?

We wont have too long to wait and see.................