Bidding battle breaks out over Boots

Health and beauty giant Boots is at the centre of an all-out bidding war today as two rival bidders fight to take over the firm.

It means the company looks set to become the first FTSE 100 firm to fall into private equity hands.

The group’s potential price tag has soared to £10.8bn (€15.9bn) since medical research charity The Wellcome Trust and private equity group Terra Firma joined the takeover tussle.