City dealers say it is far from certain that a private equity group will seek to disrupt the marriage of Boots and Alliance Unichem.
They say it is just as possible that Unichem could be the one to find a private equity suitor.
Lehman Brothers said the deal made little strategic sense. Directors of both companies struggled to win over sceptical investors on their second day touring the City.
Pensions Investment Research Consultants became the first corporate governance watchdog to speak out against the proposed £7bn deal.
References: Financial Times 06/10/05 page 42 (FT Markets – London), The Times 06/10/05 page 62 (Larger Capitalisation Shares), The Daily Telegraph 06/10/05 page 36, The Independent 06/10/05 page 64
