Boots and Alliance UniChem merger approved at EGMs
Boots Group Plc and Alliance UniChem’s
proposed merger was approved at extraordinary
general meetings held by both companies
this week. The merger is expected to
be completed on 31 July.
Over 90 per cent of Boots shareholders
who voted were in favour of each resolution, a
spokesman for the company told The Journal. “There has been overwhelming support from
the shareholders, but the hard work starts now,” he said. He added that the work streams that
had been put in place ahead of the proposed
merger would now begin to gear up as part of
the four-year integration plan. Around 99 per
cent of Alliance UniChem shareholders who
voted were in favour of the merger.
Noel Baumber, an independent pharmacist
and member of the Independent Pharmacy
Federation, commented:“Our concern is over
the size of the conglomeration of Alliance
UniChem and Boots, as it will control 20–25
per cent of the market.We see them having
quite an influence on the Pharmaceutical
Services Negotiating Committee, the
Department of Health and the Treasury, and,
because of that,we believe that UniChem now
needs to demonstrate its commitment to independent
pharmacy.” |
The
Pharmaceutical Journal
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