A joint bid for Boots from Bain and CVC will entail a key role for Dominic Murphy, an architect of the chain’s 2007 takeover by KKR
Sky News has learnt that Bain Capital and CVC Capital Partners are assembling a joint bid for the retail behemoth, which trades from more than 2,000 stores and employs over 50,000 people.
Their partnership is intriguing because of the key role that will be played by Dominic Murphy, one of CVC’s team of managing partners and an architect of the £11bn takeover of Alliance Boots by KKR, the private equity firm he previously worked for, in 2007.
Valuing Boots is a complicated process given the changing nature of consumer behaviour and its predominantly rented store estate, with many shops tied to long leases, but analysts said that a price of between £5bn and £6bn was realistic.
Read more/Source: Sky News
