As predicted by Insider, Reckitt Benckiser has today agreed to buy Boots Group's non-prescription drugs business, Boots Healthcare International, for a higher-than-expected £1.926 billion sterling ($3.4 billion) in cash.
Boots workers will view this as a lifeline. The Reckitts connection will probably mean more jobs are saved than would have been the case if GSK had won. Nonetheless, there will be, as the HR spinners like to say "synergies due to decruitment"!
http://today.reuters.com/investing/financeArticle.aspx?type=mergersNews&storyID=2005-10-07T063015Z_01_L07135395_RTRIDST_0_HEALTH-BOOTS-BHI-RECKITT-UPDATE-1.XML
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