Walgreen, the largest chain of pharmacies in the US, said it would pay $6.7 billion for a 45 per cent stake of the Boots chain as part of a deal that may see it gain full control within three years.
Combined, Walgreen and Boots would have 11,000 outlets in 12 countries.
Walgreen is to pay $4 billion cash and the remainder in stock, according to a statement issued today.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team