Search
 

Walgreen backs down

Walgreen Co., the biggest U.S. drugstore chain, said it plans to buy all of Alliance Boots for about $15.3 billion and wont use the deal to move its tax address abroad.

By Cynthia Koons, Makiko Kitamura | Updated on August 06, 2014
(AP Photo/Steven Senne)

Aug. 6 (Bloomberg) — Walgreen Co., the biggest U.S. drugstore chain, said it plans to buy all of Alliance Boots for about $15.3 billion and won’t use the deal to move its tax address abroad.

Walgreen already owns 45 percent of Bern, Switzerland-based Boots, which has pharmacy and beauty stores in Europe. It will pay about $5.29 billion in cash and $10 billion in Walgreen stock for the remaining stake, the company said today in a statement. The stock fell 9.2 percent to $62.75 at 7:10 a.m. in New York trading.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.