A PYMNTS Company

US: Walgreens continues Boots pursuit with $9.4B deal

By  |  August 7, 2014

Just two years after US drugstore giant Walgreens acquired a 45 percent stake in Switzerland-based Alliance Boots for $11.3 billion, reports say Walgreens is now pursuing the rest of the overseas rival.

Walgreens has inked a deal worth about $9.4 billion to takeover the remaining 55 percent stake in Boots.

UK-based Allen & Overy and US-based Wachtell Lipton Rosen & Katz are advising Walgreens on the takeover, while US-based Simpson Thacher & Bartlett is advising Boots parent company KKR on the transaction.

The combined company will be headquartered in Chicago, say reports, and will not see Walgreens shift its tax domicile to Switzerland, despite earlier reports.

The new company will be named Walgreens Boots Alliance and is expected to emerge in the first quarter of next year pending regulatory approval.

Full content: The Lawyer

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.