KKR to Buy British Retailer Boots

LONDON — Alliance Boots, Great Britain’s largest drug store chain, on Tuesday agreed to a takeover offer led by New York buyout firm Kohlberg, Kravis & Roberts. The takeover, worth about $22.2 billion, would be Europe’s largest leveraged buyout. Boots’ board of directors in a statement recommended its shareholders approve the offer, which according to reports increased three times since talks were first reported in early March. Boots operates about 3,000 stores and a wholesale pharmacy business.