Arab Today, arab today walgreens shareholders approve alliance boots takeover
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Walgreens shareholders approve Alliance Boots takeover

Arab Today, arab today

Arab Today, arab today Walgreens shareholders approve Alliance Boots takeover

A Walgreens store in New York
New York - AFP

Shareholder of US pharmacy chain Walgreens on Monday approved a $16 billion takeover of European rival Alliance Boots that creates a global leader in the drug store business.
Walgreens said that 97 percent of its shareholders approved the company's acquisition of the remaining 55 percent of Alliance Boots it does not currently own.
"The transaction will fully combine the two companies to form the first global pharmacy-led, health and wellbeing enterprise," said Walgreens, which has more than 8,200 US stores.
The deal involves reorganization into a holding company structure, Walgreens Boots Alliance, Inc., with Walgreens a wholly owned subsidiary.
The combined company will be headquartered in Deerfield, Illinois, where Walgreens is based, and will have more than 11,000 stores in 10 countries. The wholesale operations will have a presence in some 20 countries.
Boots operations will continue at its current British headquarters in Nottingham.
Stefano Pessina, the Alliance Boots executive chairman, will lead the new company as acting chief executive.
Walgreens announced earlier in December that president and CEO Greg Wasson would step down shortly after the deal closes.
Walgreens chairman James Skinner is to become the executive chairman of Walgreens Boots Alliance.
Walgreens said the transaction is expected to be completed Wednesday. The combined company's shares will trade under the ticker symbol WBA on the Nasdaq Stock Market.
Shares in Walgreens were up 0.4 percent at $76.77 in early-afternoon trade on the New York Stock Exchange.
In 2012, Walgreens acquired a 45 percent stake in Alliance Boots, based in Bern, Switzerland, for $6.7 billion, with an option to buy the rest for about $9.5 billion.
In August Walgreens said it would exercise that option but that it would not combine with Alliance Boots under a foreign parent company in a controversial "tax inversion" that provides shelter from US taxes.
Walgreens said it had abandoned the idea in part because of public opposition to inversions and the fact that a major portion of its revenues come from government-funded reimbursement programs.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walgreens shareholders approve alliance boots takeover Arab Today, arab today walgreens shareholders approve alliance boots takeover

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walgreens shareholders approve alliance boots takeover Arab Today, arab today walgreens shareholders approve alliance boots takeover

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday