Walgreen Paying $6.7B For Large Stake In Alliance Boots

Law360, New York (June 19, 2012, 12:49 PM ET) -- Walgreen Co. will pay $6.7 billion for a 45 percent stake in European drug retailer Alliance Boots GmbH, expanding the chain's empire overseas in a deal that gives it a chance to completely take over Alliance Boots by 2015, Walgreen said Tuesday.

The initial purchase price will be covered using $4 billion in cash and 83.4 million Walgreen shares, worth $2.7 billion based on Monday's closing price. After three years, Walgreen will have the option to buy out the remaining 55 percent interest in Alliance Boost...
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