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European Stocks to Watch: Alliance Boots

Shares in Alliance Boots fell 0.2% on a report from the Financial Times that the retail chain is seeking blocking rights for a takeover from Kohlberg Kravis Roberts valued at about $21.87 billion.

The pension fund trustees acting on behalf of the health and beauty company are seeking legal advice about whether they would be able to halt the transaction, but they are not thought to be planning to stop the deal, the FT said.

Negotiations over KKR's contribution to the Alliance Boots pension fund have failed to reach an agreement ahead of a scheduled court hearing on June 21 to discuss the takeover.

Clariant (Up 0.9%) Shares in Switzerland's Clariant gained on renewed speculation that German chemical group Lanxess is looking to take over the chemical company.

BASF (Down 0.2%) The EU is likely to approve its first genetically modified plant, BASF's Amflora potato, according to a board member of the German chemical company, German newspaper Handelsblatt reported.

Morgan Sindall (Up 13.2%) The construction group agreed to buy Amec Developments Limited, an urban regeneration unit, from Amec for $108.35 million.

Soco International (Up 18.9%) The oil and gas exploration company gained on news it has potentially found oil and gas reserves at its Te Giac Den well in Vietnam.

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