U.S. retailer Walgreen Co will make a full takeover of Europe's biggest pharmacy chain Alliance Boots, but won't use the deal to move its tax domicile overseas after fierce criticism of such tax-cutting moves at home. Walgreen said on Wednesday it would purchase the 55 percent it does not already own of Alliance Boots for 3.13 billion pounds ($5.27 billion) in cash and 144.3 million Walgreen shares, after first taking a 45 percent stake in 2012.It added the combined company would keep its tax domicile in the United States, with headquarters in the Chicago area.(1 US dollar = 0.5940 British pound)
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, 5984720 shares of WAG exchange hands on a given day and today's volume is recorded at 31358220.
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