All Hands on deck

KKR would seem to have a nearly impregnable position in its effort to buy out Alliance Boots. The buyout giant has signed up Stefano Pessina, the UK retailer’s deputy chairman and 15% shareholder. And Pessina is thought to be ready to quit the company if another buyer prevails. But two investors, both known to be clever, have said they are interested. So what do Terra Firma and the Wellcome Trust have in mind? The private equity firm and the charitable trust with a taste for private equity aren...