Boots, Alliance UniChem Agree to Merge

LONDON (AP) _ The boards of pharmaceutical distributor Alliance UniChem PLC and drugstore chain Boots Group PLC said Monday they had agreed to merge. <br/><br/>The new company, to be called Alliance Boots,

Monday, October 3rd 2005, 11:36 am

By: News On 6

LONDON (AP) _ The boards of pharmaceutical distributor Alliance UniChem PLC and drugstore chain Boots Group PLC said Monday they had agreed to merge.

The new company, to be called Alliance Boots, boasts combined annual sales of 13 billion pounds ($22.9 billion).

If the merger is approved by stockholders of both companies, Alliance Boots would have 2,600 stores in Britain, and more than 100,000 employees in Britain and the European continent.

The companies said Boots Chief Executive Richard Baker and Chairman Sir Nigel Rudd would continue to hold those positions in the new company, and Alliance UniChem executive deputy chairman Stefano Pessina also would keep his title.