AB. Alliance Boots

RNS Number:7836S
Alliance Boots plc
12 March 2007

Alliance Boots plc
12 March 2007

On 9 March 2007, the Board of Alliance Boots plc ("Alliance Boots" or the "
Company") announced that it had received a preliminary and highly conditional
proposal regarding a possible offer for the Company.

Later that day, Kohlberg Kravis Roberts & Co. Ltd. and Stefano Pessina confirmed
that they had made the approach, acting in concert, and that their proposal (the
"KKR Proposal") had indicated a possible offer price of 1,000p per Alliance
Boots share subject, inter alia, to due diligence and a recommendation from the
Board of Alliance Boots.

The Board of Alliance Boots met today to consider the KKR Proposal.  In light of
their connections with the KKR Proposal, neither Stefano Pessina nor Ornella
Barra attended the Board meeting.

Having reviewed the KKR Proposal in detail with its advisers, the Board of
Alliance Boots does not believe it reflects the fundamental value of the Company
or the attractive prospects, opportunities and synergies available to Alliance
Boots following the very recent completion of its merger.  As a result, the
Board of Alliance Boots has today informed Kohlberg Kravis Roberts & Co. Ltd.
and Stefano Pessina that the KKR Proposal cannot be recommended to the
shareholders of Alliance Boots.

Note 7 of Rule 2.4 of the City Code on Takeovers and Mergers requires the
Company to point out that this statement is being made by the Company without
prior agreement with the potential offeror and that there can be no certainty
whether any offer will be made.

For further enquiries, contact:

Alliance Boots plc
Gerald Gradwell/Chris Laud (Investor Relations)      Tel: +44 (0) 20 7138 1118
Donal McCabe (Media)                                 Tel: +44 (0) 20 7138 1164

Goldman Sachs International                          Tel: +44 (0) 20 7774 1000
Simon Dingemans

Finsbury                                             Tel: +44 (0) 20 7251 3801
James Murgatroyd


Goldman Sachs International, which is authorised and regulated in the United
Kingdom by The Financial Services Authority, is acting for Alliance Boots in
relation to the matters described in this announcement and is not advising any
other person and accordingly will not be responsible to any person other than
Alliance Boots for providing the protections afforded to the customers of
Goldman Sachs International or for providing advice in relation to the matters
described in this announcement.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of the Company, all "dealings" in any "
relevant securities" of that company (including by means of an option in respect
of, or a derivative referenced to, any such "relevant securities") must be
publicly disclosed by no later than 3.30 pm (London time) on the London business
day following the date of the relevant transaction. This requirement will
continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the "offer period" otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an "
interest" in "relevant securities" of the Company, they will be deemed to be a
single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of the Company by the offeror, or by any of their respective "
associates", must be disclosed by no later than 12.00 noon (London time) on the
London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.

Forward Looking Statements

This letter includes 'forward-looking statements' under United States securities
laws.  In some cases, these forward-looking statements can be identified by the
use of forward-looking terminology, including the terms "believes", "estimates",
"plans", "prepares", "anticipates", "expects", "intends", "may", "will" or "
should" or, in each case, their negative or other variations or comparable
terminology. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results, performance
or achievements of the Alliance Boots group, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such forward-looking
statements are based on numerous assumptions regarding the Alliance Boots
group's, present and future business strategies and the environment in which the
Alliance Boots group will operate in the future. As a result, the Alliance Boots
group's actual future financial condition, performance and results may differ
materially from the plans, goals and expectations set out in the Alliance Boots
group's forward-looking statements contained in this letter or any other
forward-looking statement it may make. Except as required by the UK Listing
Authority, the London Stock Exchange, the City Code, or by law, Alliance Boots
plc does not undertake any obligation to update any of the forward-looking
statements contained in this document or other forward-looking statements it may
make.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

OFDELLFFDXBFBBB

Alliance Boots (LSE:AB.)
Historical Stock Chart
From Jun 2024 to Jul 2024

Alliance Boots (LSE:AB.)
Historical Stock Chart
From Jul 2023 to Jul 2024