BIG DRUG COMPANY
CONTROL IN BRITISH HANDS. (United Press Assn.—Telegraph Copyright.) (Rec. 7.0 p.m.) London, May 9. Arrangements have been completed for the British purchase of a substantially smaller number of shares in Boot’s Drug Company. Control now passes into British hands by the purchase of £1,000,000 worth of ordinary shares at £6 15/- each. A message from London on January 12 last stated: A British syndicate has repurchased from American interests the control of Boot’s Pure Drug Company. This syndicate owns £8,500,000 worth of shares in Boot’s, cash chemists with 900 branches in Britain. It is believed that the syndicate paid almost £8,000,000 for the American shares. The Financial News states that the Treasury and the Bank of England disapprove of the purchase, as it involves remittance of money to America,
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Bibliographic details
Southland Times, Issue 22011, 10 May 1933, Page 5
Word Count
132BIG DRUG COMPANY Southland Times, Issue 22011, 10 May 1933, Page 5
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