Shares in Alliance Boots soared on Monday as management at the British pharmacy chain mulled a takeover approach from the group's deputy chairman and US investment group KKR.
Alliance Boots is the biggest pharmacy chain in Europe and was created last year by the merger of pharmacy chain Alliance UniChem and health and beauty retailer Boots.
The informal bid by Kohlberg Kravis Roberts (KKR) and Stefano Pessina, who already holds 15 percent of the group's shares, values Alliance Boots at 9.68 billion pounds (14.27 billion euros, 18.7 billion dollars).
The Alliance Boots board was expected to meet early this week to consider its response.
News of the bid emerged late Friday, prompting the company's share price to rocket by 14.11 percent.
More
Alliance Boots is the biggest pharmacy chain in Europe and was created last year by the merger of pharmacy chain Alliance UniChem and health and beauty retailer Boots.
The informal bid by Kohlberg Kravis Roberts (KKR) and Stefano Pessina, who already holds 15 percent of the group's shares, values Alliance Boots at 9.68 billion pounds (14.27 billion euros, 18.7 billion dollars).
The Alliance Boots board was expected to meet early this week to consider its response.
News of the bid emerged late Friday, prompting the company's share price to rocket by 14.11 percent.
More
Why "sexy"?
This and this should help to explain.
Nothing like the smell of money to turn some people on!
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