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.
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