Alliance Boots chief executive Richard Baker quit the healthcare giant today as the company’s new owners announced a management overhaul.

The guardians of Alliance Boots' pension scheme struck a funding deal with the group's private equity buyers today, breaking the deadlock that threatened the £11.1bn (€16.46bn) sale of the healthcare giant.

The guardians of Alliance Boots’ pension scheme struck a funding deal with the group’s private equity buyers today, breaking the deadlock that threatened the £11.1bn (€16.4bn) sale of the healthcare giant.

Alliance Boots' private equity buyers Kohlberg Kravis Roberts are preparing to meet the group's pension fund trustees in a bid to end the row that threatens to derail the £11.1bn (€16.4bn) takeover.

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.

Alliance Boots’ shareholders will cast their votes today on the recommended £11.1bn (€16.3bn) takeover of the group by private equity firm Kohlberg Kravis Roberts and deputy chairman Stefano Pessina.

UK union leaders attacked a £6.5m (€9.58m) windfall today after it was revealed that the boss of Alliance Boots will net the multi-million payout following the sale of the retail and pharmaceutical giant.

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.

The likely private equity takeover of Alliance Boots will probably lead to “opportunistic financial rape”, a retail expert has said.

A bidding war for Alliance Boots broke out today after two private equity groups went head to head in a takeover tussle to snap up the health and beauty giant.

Health and beauty giant Alliance Boots today backed a £10.6bn (€15.6bn) takeover by its deputy chairman Stefano Pessina and private equity group Kohlberg Kravis Roberts.

Alliance Boots, the retail and wholesale drug group being eyed for takeover by private equity bidders, announced a raft of changes today that will see hundreds of jobs cut and its pharmacies rebranded in a £65m (€95.6m) million makeover.

Healthcare retailer and pharmaceutical giant Alliance Boots is reportedly being eyed for a potential takeover by private equity firm Terra Firma in a move which could spark an all-out bidding war for the group, a report said today.

Alliance Boots shares were trading above £10 today as investors suspected that bidder Stefano Pessina will need to increase his proposed offer price.

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

The storm over the power of private equity funds is set to reignite with the news of a possible takeover of high street chain Boots.