£11bn deal set to seal Boots takeover

The battle for retailing giant Alliance Boots looked over today after private equity firm Kohlberg Kravis Roberts floored its rival with an £11bn (€16.2bn) bid.

KKR’s higher offer, backed by Alliance Boots deputy chairman Stefano Pessina, prompted the rival consortium of medical charity Wellcome Trust, private equity firm Terra Firma and HBOS to pull out of the race.