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Article: After deals, new boots emerges.(Boots Group PLC, Alliance UniChem PLC, Boots Healthcare International, Reckitt Benckiser PLC)
- Article from:
- Mass Market Retailers
- Article date:
- October 17, 2005
- Author:
CopyrightCOPYRIGHT 2005 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NOTTINGHAM, England -- Boots Group PLC has remade itself with two major deals within the space of a week.
On October 3 the company announced its merger with another British drug chain, Alliance UniChem PLC, in a deal that is worth more than $12 billion.
Four days later it reported the sale of its Boots Healthcare International nonprescription drug division to Reckitt Benckiser PLC for $3.4 billion.
The transactions were in fact interdependent, as the merger was conditional on the sale of the over-the-counter drug business.
The value of the merger, which is expected to close next year, is the combined market capitalization of Boots ...
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