Boots pension fund guardian attacks takeover deal

The guardian of the Boots pension fund attacked the company today for backing a £11.1bn (€16.3bn) takeover before agreement had been reached on funding for future retirement benefits.

John Watson, who is chairman of trustees for the Alliance Boots pensions scheme, raised his concerns at a gathering of shareholders to back the takeover by deputy chairman Stefano Pessina and buy-out group Kohlberg Kravis Roberts.