Walgreens Paying $6.7B For 45% Of Alliance Boots

 @MikeObelm.obel@ibtimes.com
on June 19 2012 7:04 AM

Walgreens Co. (NYSE: WAG), the largest U.S. drugstore chain, said Tuesday it will pay $6.7 billion in cash and stock for a 45 percent stake in Alliance Boots GmbH, a large Swiss-based health and beauty product company.

Deerfield, Ill.-based Walgreens will have the option in three years to buy the remaining 55 percent of Alliance Boots, which operates more than 3,330 stores in 25 countries.

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