Walgreen to take 45% stake in Alliance Boots for $6.7 billion

20 June 2012

US drugstore chain Walgreen (NYSE: WAG) has agreed to acquire a 45% holding in pharmacy, health and beauty retailer Alliance Boots for $6.7 billion, and has an option - but not an obligation - to purchase the rest of the company in about three years time.

Walgreens initial investment and option excludes the Alliance Boots minority interest in Galenica, the Swiss health care group. The Alliance Boots investment in Galenica will continue to be owned by Alliance Boots and its existing shareholders for the benefit of those shareholders.

Walgreens and Alliance Boots are the largest retail pharmacy, health and daily living destinations in the USA and Europe, respectively, and together they would be:

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK