Activists Eye Inversion Deals As New Bargaining Chip

Law360, New York (April 15, 2014, 6:09 PM EDT) -- A group of Walgreen Co. investors recently urged the drug store chain to consider moving its longtime U.S. headquarters to a more tax-friendly jurisdiction, and experts say companies should brace themselves for an influx of sophisticated shareholder activists angling for similar structural changes.

In the latest show of shareholder muscle, unnamed investors in a private meeting last week pressed Walgreen management to use the company's multibillion-dollar acquisition of Swiss rival Alliance Boots GmbH as an opportunity to migrate across the Atlantic. So-called inversion transactions, where a company relocates to cash in on lower taxes elsewhere, have taken off amid a shaky...

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