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Friday, December 19, 2014

Madison Dearborn in the lead to take over Walgreen unit -sources, (NYSE: WAG)

Buyout firm Madison Dearborn Partners LLC is in advanced talks to acquire a majority stake in the infusion services business of U.S. drugstore chain operator Walgreen Co for more than $1 billion, according to two people close to the situation. Madison Dearborn has so far prevailed over other private equity firms in the auction for the unit, which is the largest U.S. provider of home-infusion services, the people said on Friday.Walgreen may decide not to sell if Madison Dearborn does not meet its price expectations, the sources, the sources, who asked not to be identified because the negotiations are confidential, cautioned.Walgreen and Madison Dearborn both declined to comment.With a staff of more than 1,600 clinicians, the unit for sale offers infusion services at home and at care centers across the United States. Its infusion therapies are used for medical conditions such as bleeding disorders and serious infections.

Walgreen Co. (Walgreens) together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG fell by 1.55% or $-1.15/share to $73.23. In the past year, the shares have traded as low as $54.86 and as high as $76.39. On average, 5975950 shares of WAG exchange hands on a given day and today's volume is recorded at 8641434.