Early signs good for Pessina Boots bid

BILLIONAIRE Stefano Pessina looks poised for an early breakthrough in his surprise £9.7 billion (€14.3bn) attempt to take Alliance Boots private.

The Sunday Times said Mr Pessina, who is the retail chain’s deputy chairman, and his private equity partner Kohlberg Kravis Roberts were likely to be granted access to the company’s books ahead of any possible takeover offer.

The report said that Nigel Rudd, Alliance Boots’ chairman, planned to hold a meeting of the company’s remaining independent directors today.