Voters back takeover deal
The future of Alliance Boots as a private company looks assured as shareholders voted overwhelmingly in favour of the£11.1 billion bid from deputy chairman Stefano Pessina and KKR.

At the EGM today, Alliance Boots chairman Sir Nigel Rudd said that, out of more than 15,000 proxy votes received, 12,500 voted in favour of the deal.

About 50 shareholders who attended the EGM in person cast their votes this morning, but the deal is a foregone conclusion.

John Watson, Alliance Boots' pension trust chairman, told Rudd he was 'disappointed and regrets the board recommending the scheme'. He added that the borrowings estimated in leveraging the deal 'had serious implications for members'.

However, Rudd told shareholders he had assurances from Pessina and KKR that the scheme would be protected and that the Pensions Regulator would ensure this - 'even if they didn't'. He also reassured members of Pessina's commitment to investing and growing the business.

Chief executive Richard Baker said none of the executive directors had had discussions about their future with the company. He declined to comment on whether he would like to remain at Alliance Boots when the deal completes on June 26.