Walgreen Co (WAG.N) plans to buy drugstore.com (DSCM.O) for $429 million, expanding the online presence of the world's largest drugstore chain. Shareholders in the online retailer, which has never turned an annual profit, will receive $3.80 a share, which is more than double the company's closing stock price on Wednesday. Walgreen recently agreed to sell its pharmacy benefits business in an effort to focus more directly on retail and healthcare.
Source
