UK - No boot in the door for Terra Firma

Terra Firma had attempted to acquire a stake in Alliance Boots as part of the equity syndication process. The banks which provided a ТЃ1.3bn equity bridge are now in the process of syndicating that equity, with Terra Firma understood to have offered to invest ТЃ250m. Earlier this year it bid to acquire the pharmacy chain and retailer but lost out to KKR. However, Terra Firma has now withdrawn its offer after its investors blocked the deal.