Boots merger costs come to £42m
The health and beauty retailer Bootsrevealed yesterday its planned merger with Alliance UniChem is likely to cost about £42m.
The lion's share of that amount will be paid to those advising on the £7bn deal.
The investment bank Goldman Sachs is banker to Boots, while its brokers are Merrill Lynch and UBS. Slaughter and May are providing legal advice on the merger. Across the table, Alliance UniChem's banker is Merrill Lynch; its brokers are CSFB, with Allen & Overy giving legal advice.
A prospectus sent to Boots' shareholders yesterday also showed the basic salary of its chief executive, Richard Baker, increased from £663,000 to £696,000 at the start of this month. However, his pay for taking the helm of the merged group will be set by its remuneration committee after the deal closes.
The merger is slated for completion at the end of this month, and will be put to the vote by Boots' shareholders on 4 July.
Those holding Boots shares on 28 July will be paid a "stub" dividend in October of 10p for the part of the year up to the transaction. Alliance UniChem investors will receive 13.25p per share.
Boots reiterated that it expects cost savings of about £100m from the deal, which will create a pharmacy giant with more than £13bn in sales.
Geoffrey Macnab reviews The Desolation of Smaug - the meat in Peter Jackson's Hobbit sandwich
Chiwetel Ejiofor and Idris Elba get nods for Best Actor, which no black Brit has ever won
voicesJust when you thought you could find a man, get married, and have a baby by the age of 35... it turns out you’re too late, says Grace Dent
Swedish stars ask fans for £195 pledges on crowd-funding website
Nelson Mandela memorial: ‘Bogus’ sign language interpreter made mockery of Barack Obama’s tribute in Soweto
French café starts charging extra to rude customers
Australia: Gay marriage law reversed by high court less than a week after first weddings
Church versus state: Scientology faces unholy war after court ruling
Australia incest case: Severely deformed children found in remote farming community after generations of inbreeding
- 1 Nelson Mandela memorial: ‘Bogus’ sign language interpreter made mockery of Barack Obama’s tribute in Soweto
- 2 French café starts charging extra to rude customers
- 3 Australia: Gay marriage law reversed by high court less than a week after first weddings
- 4 Not all right on the night
- 5 Australia incest case: Severely deformed children found in remote farming community after generations of inbreeding
- < Previous
- Next >
iJobs Money & Business
£60000 - £100000 per annum + benefits + bonus: Harrington Starr: Senior Busine...
£500 - £550 per day: Cornwallis Elt : Business Systems, Business Analyst, Plat...
£90000 - £110000 per annum: Cornwallis Elt : Solution Architect, Credit Risk, ...
£44999 - £60001 per annum + Benefits: Pro-Recruitment Group: A Top Tier firm i...