Walgreen Pays $6.7 Billion For Alliance Boots Stake

LONDON (Reuters) - Drug retailer Walgreen Co is buying a 45 percent stake in European health and beauty group Alliance Boots for $6.7 billion in cash and stock, creating the world's biggest buyer of prescription drugs.

Sections:  news   business   
RELATED ARTICLES
  • Retailers report modest gains for April
    Americans spent briskly during the early spring months in the latest sign that they’re encouraged by the economic recovery. Falling gas prices, a rallying stock market and gains in the job market all fueled Americans’ shopping habits even as cold weather tempered their desire to buy spring fashions. More
  • US medicine spending shows rare dip
    Total U.S. spending on prescription medicines declined last year, a first in more than half a century. The dip was 1 percent, to $325.8 billion — a 3.5 percent drop after accounting for population growth and economic expansion, according to the IMS Institute for Healthcare Informatics. More
  • Microsoft may buy Barnes & Noble's Nook unit for $1 billionMicrosoft may buy Barnes & Noble's Nook unit for $1 billion
    According to internal documents obtained by the website TechCrunch, Microsoft has offered $1 billion for the digital assets of Nook Media, Barnes & Noble's digital book venture. According to internal documents obtained by the website TechCrunch, Microsoft has offered $1 billion for the digital assets of Nook Media, Barnes & Noble's digital book venture. More
  • Sears Didn't Move Fast Enough, CEO Says
    Sears continues to struggle to get a "decent" return on its assets and the retailer didn't move fast enough to cut expenses after the financial crisis, the CEO said at the annual meeting. More
  • J.C. Penney ad apologizes to customersJ.C. Penney ad apologizes to customers
    The ad comes after the Plano, Texas-based company last month fired its CEO, Ron Johnson, after 17 months on the job and rehired his predecessor Mike Ullman. Johnson's ambitious changes included getting rid of most sales and bringing in new, hip brands. More
BING NEWS:
  • Is Walgreen Company a Value Stock Following Its 20% Tumble?
    That's because Walgreen's effective tax rate was 37.1% in 2013, far above Alliance Boots 20% rate. Just how big of a deal could Walgreen's tax inversion have been? Big, considering that the company's pre-tax earnings last quarter totaled $1.1 billion.
    09/22/2014 - 2:15 pm | View Link
  • Walgreen Names Jana’s Rosenstein to Board Amid Alliance Deal
    Barry Rosenstein, who leads activist investment firm Jana Partners LLC, took a seat on the board of Walgreen Co. as the biggest U.S. drugstore chain plans to acquire Alliance Boots GmbH. Jana, which manages about $11 billion ... rate it pays the U.S ...
    09/7/2014 - 1:00 pm | View Link
  • Walgreen retreats from plan to move tax domicile abroad: report
    Citing sources, the UK-based news outlet said that Chicago area-based Walgreen would proceed, as expected, with its acquisition of the remaining shares of Switzerland's Alliance Boots in a deal valued at about $8.4 billion ... the company pays, as ...
    08/5/2014 - 6:45 am | View Link
  • If Walgreen's goes Swiss and pays less taxes, then it shouldn't influence US politics
    For example, Walgreen, the largest drugstore chain in the United States with more than 8,700 drugstores spread across the nation, is on the verge of moving its corporate headquarters to Switzerland as part of a merger with Alliance Boots, the European ...
    07/7/2014 - 3:03 am | View Link
  • At Walgreen, Renouncing Corporate Citizenship
    a move by Walgreen to Switzerland would most likely cost United States taxpayers about $4 billion over five years. Illinois taxpayers would also be hurt. The company’s tax rate would be cut to 20 percent as part of Alliance Boots from about 31 percent now.
    06/29/2014 - 9:12 pm | View Link
  • More
BING SEARCH:
  • Healthcare business news, research, data and events from ...
    Wounded Care - A Modern Healthcare special report By Bob Herman and Fan Fei. Patient safety failures at an Indian Health Service hospital reveal a system in crisis
    12/4/2016 - 1:41 pm | View Website
  • Boots UK
    Boots UK Limited (formerly Boots the Chemists Limited), trading as Boots, is a pharmacy chain in the United Kingdom and Ireland, with outlets in most high streets ...
    12/4/2016 - 7:00 am | View Website
  • Breaking News
    Retail industry loses legends in 2015 By Mike Troy Dec. 23, 2015 Some of the retail industry's most innovative, influential and accomplished leaders passed away in ...
    12/3/2016 - 10:39 pm | View Website
  • Today's Stock Market News and Analysis
    Please note that once you make your selection, it will apply to all future visits to NASDAQ.com. If, at any time, you are interested in reverting to our default ...
    12/3/2016 - 9:56 pm | View Website
  • Aging in Place: Generational Challenges in the ...
    What makes us different? Profiles in Diversity Journal ® is dedicated to promoting and advancing diversity and inclusion in the corporate, government, nonprofit ...
    12/3/2016 - 2:03 pm | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News