Walgreens to proceed with takeover of Alliance Boots
Walgreens and Alliance Boots embarked on a long-term strategic partnership in June 2012 when Walgreens invested approximately $6.7 billion for a 45% equity ownership stake in the company.
The deal also gave Walgreens the option to buy the UK retailer outright by acquiring the remaining 55% of Alliance Boots between February 2015 and August 2015.
Walgreens is now expected to reveal as soon as today that it will exercise that option in a deal costing around £5 billion.
The transaction will result in the two companies becoming the global leader in pharmacy-led, health and wellbeing retail with over 11,000 stores in 12 countries.
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