BOOTS DRUG CO.

Stratford Evening Post, Volume II, Issue 239, 10 May 1933, Page 3

BOOTS DRUG CO.

PURCHASE OF SHARES Press Association. I—Copyrights 1 —Copyrights London, May 9. Arrangements have been completed for the British purchase of a substantially smaller number of shares in the Boots Drug Company. Control now passes into British hands by the purchase of 1.000.000 £1 ordinary shares at £6 15s each. The Treasury in January intervened, forbidding the repurchase of the Boots Company on the ground that it was impossible for Britain to find 23,000,000 dollars to pay the American shareholders without seriously disturbing the sterling exchange. An earlier message stated that a British syndicate had repurchased from American interests the control of the company. This syndicate owns £8,500,000 worth of shares in Boots Cash Chemists, with 900 branches in Britain.