U.S. pharmacy chain Walgreen Co will remain headquartered in the United States, spurning the chance of a so-called tax-inversion, after it buys the rest of European drug chain Alliance Boots, Sky News reported on Tuesday.The broadcaster, citing sources close to the deal, said Walgreen will announce as soon as Wednesday that it will purchase the 55 percent of Alliance Boots that it does not already own for about 5 billion pounds ($8.4 billion).(bit.ly/1s8OOku)Walgreen has been under pressure from some shareholders to move its domicile to the UK or Switzerland, where corporate taxes are lower than in the United States.The company's stock was down 5.8 percent at $67.98 late afternoon trading on the New York Stock Exchange.
Walgreen Co. (Walgreens), together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG fell by 4.15% or $-2.99/share to $69.12. In the past year, the shares have traded as low as $46.75 and as high as $76.39. On average, 5559980 shares of WAG exchange hands on a given day and today's volume is recorded at 30273524.
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