Private equity firms are bidding for chains, attracted by real estate and free cash flow.
Like KKR:
1. Kohlberg Kravis Roberts & Co and Stefano Pessina raised their bid for Alliance Boots Plc, the U.K.'s largest drugstore chain, to 11.1 billion pounds ($22.2 billion) 40 percent above the share price on March 8 for Europe's biggest ever leveraged buyout for control of 3,100 stores and a wholesale drug supplier to more than 125,000 pharmacies and hospitals.
2. KKR will receive a106 million-pound fee from Alliance Boots if a competing bid is announced and subsequently completed.
3. KKR also wants to make acquisitions outside the U.K.
KKR has completed 150 takeovers worth $279 billion including debt since it was founded three decades ago.
Have money will travel.
[Click here for full story at: BLOOMBERG.COM]
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