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Report: Walgreens may accelerate Alliance purchase

Deerfield, Ill. – The Walgreens Co. is reportedly considering making a purchase offer for U.K.-based drugstore chain Alliance Boots. Walgreens, which owns 45% of the company, has an option to purchase the remaining 55% between February and August 2015, but according to The Telegraph may try to make an offer even sooner.

A group of activist investors including Och Zif, Jana Partners and Corvex has been urging Walgreens to fully purchase Alliance Boots for the purposes of moving its headquarters from the U.S. to either the U.K., or Switzerland. Both those countries have a corporate tax rate far lower than the 37.5% charged in the U.S. Walgreens reportedly will offer about $17.7 billion for the remaining share of Alliance Boots.

 

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