Walgreen to buy 45% stake in Alliance Boots

Published: 19-Jun-2012
Finance Retail

US retailer to pay $6.7bn for share of the business


US retailer Walgreen is to buy a 45% stake in Alliance Boots – in a deal worth a reputed $6.7bn (£4.3bn). The cash and shares offer will cement Walgreen’s position as the world’s biggest pharmacy chain. As part of the deal Walgreen has the option of buying the outstanding Boots shares by 2015, valuing the company at $9.5bn in total.

The Illinois-based group operates 7,890 pharmacies across the US, which compares well with Alliance Boots’ 3,300 health and beauty retail stores across the UK and ten other countries worldwide. Alliance Boots’ wholesale business also supplies pharmacies and doctors in 21 countries.

The deal still needs to be approved by industry regulators.

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