UNQUOTE

UK - KKR secures £11.1bn Boots deal in shareholder vote

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Alliance Boots shareholders have voted in favour of KKR's ТЃ11.1bn takeover bid. Of the proxy votes cast ahead of the EGM, reckoned to be a good indicator of the EGM results, 96.3% of shareholders approved KKR's recommended offer. The first private equity acquisition of a FTSE company, and Europe's largest buyout of all time will complete with the delisting of Boots on 28 June 2007.

Although shareholders in the public company have accepted the offer, KKR is yet to come to an agreement with the trustees of the Boots pension scheme. The £8bn debt due to be involved in KKR's acquisition has convinced the trustees that KKR must plough in an additional amount of funding to ensure the future security of the pension fund. This amount could be up to £1bn.
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