£11bn offer tabled for Boots

One of the private equity firms circling retailer Alliance Boots today improved its takeover offer price to just over £11bn (€16.2bn).

Kohlberg Kravis Roberts is now offering 1139p a share in the hope of fending off interest from the Wellcome Trust and its private equity partner Terra Firma.

The rival consortium had said on Friday that it was looking at a price of 1115p a share, equivalent to £10.8bn (€15.9m) and exceeding a previous proposal from KKR worth £10.6bn (€15.6bn).