Boots, the UK pharmaceuticals and healthcare retailer, has announced plans for a £300m (€486m) share buy-back programme following its recent decision to minimise risk in its pension scheme through the fund's purchase of fixed income securities, as well as corporate efficiency.
Based on a share price of 617p, the buy-back would represent 5.4% of the company's market worth. Steve Russell, chief executive of Boots, said: "The company is highly cash-generative and remains well placed to invest in growth opportunities."
