Boots the Chemist swallowed into global pharmacy giant as U.S. firm Walgreens takes 45% stake #HarryGlass @thisismoney @Resilient_ent #PrivateEquity

British high street chemist Boots could soon be in another set of American hands as U.S. rival Walgreens snapped up a 45 per cent stake for $6.7billion (£4.3billion).

The largest drug store chain in America, Walgreens said the strategic partnership with Alliance Boots, itself the market leader in Europe, will create the first global pharmacy business with 11,000 stores in 12 countries.

  In one of the UK's largest-ever private equity deals in 2007, Alliance Boots was taken private in an£11.1billion takeover by US-based KKR and Stefano Pessina, who is now executive chairman. It employs around 75,000 staff in the UK.

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