$18.8 Billion Offer for UK Drug Store Alliance Boots from KKR, Pessina

KKR, Pessina Offer $18.8 Billion for Alliance Boots

By Neil Craven

March 9, 2007, Bloomberg

Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina offered 9.7 billion pounds ($18.8 billion) for Alliance Boots Plc, the largest U.K. drugstore chain, in what would be Europe's biggest buyout.

Alliance Boots was formed last year in a merger that combined 2,600 U.K. stores and a wholesale drug supplier to more than 125,000 pharmacies and hospitals.

See the full news report here @ Bloomberg