Boots Group and Alliance UniChem said today they would merge to create a 2,600-store healthcare giant with sales in excess of £13 billion.
Subject to approval from shareholders and competition regulators -- and barring any counterbids to spoil the party -- the two will merge to create a UK pharmacy giant that will be four times as large as its nearest competitor.
Insider expects some fat to be trimmed from Boots in the merger process. Upwards of 1000 jobs (most at Boots Nottingham HQ) will go.
The sale of Boots Healthcare International is progressing: GSK and Reckitts are the frontrunners, Insider understands.
Source: FT
http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=FT&Date=20051003&ID=5158637
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