The company has dominated the news this week and, for shareholders, there has been a lot to digest. News of the proposed merger with Alliance Unichem was greeted with a degree of scepticism. Many are concerned that Boots shareholders won't get fair value for money, and over the role Alliance Unichem deputy chairman - and apparent chief string-puller in the deal - Stefano Pessina will play.
But the shareholders must have been delighted with the very generous price achieved by today's sale of medicines arm Boots Healthcare International. Reckitt Benckiser has paid£1.93 billion for the manufacturer of Nurofen and Strepsils, a move that allows Boots to return cash to shareholders while retaining a big pile to invest in its core business.
Baker still has an awful lot to do though. He has to demonstrate the benefits of the Alliance deal clearly, while working out an effective strategy for nursing the high street business back to full health.
That won't be easy. The high street continues to be a horrible place, with only food retailers seeming to prosper. That Justin King's steady recovery at Sainsbury's is continuing will please the City, but other good news is few and far between.
This week's real dog has been MFI, and despite chief executive John Hancock falling on his sword following terrible figures on Monday, there seems little future for the business in its current form.
Yesterday's decision by the Monetary Policy Committee to keep interest rates stable didn't come as a surprise. However, despite the very tentative signs of recovery in the housing market, this won't be enough to help retailers - a series of cuts in the rate will be needed to inject life back into the high street.
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