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Bid for Boots Alliance

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According to a report in The New York Times, Kohlberg Kravis Roberts & Company, a private equity firm, has formed an alliance with Stefano Pessina, deputy chairman of Boots Alliance and its largest shareholder, to execute a takeover bid for Boots Alliance. The bid for Boots is said to be $19 billion.

Since the 2006 merger between the Boots Group and Alliance Unichem, profits for the drugstore chain rose 10% to $373 million in the six months ended Sept. 30, 2006. Boots Alliance currently operates approximately 2,600 stores in the UK and another 350 outlets in Europe and Asia.

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