Walgreens expects to complete acquisition of Alliance Boots ahead of schedule on 31 December
Walgreens, a listed Deerfield, Illinois-based pharmacy chain, has said it expects to complete its acquisition of the European chemist chain Alliance Boots on 31 December. Walgreens announced on 6 August that it would acquire the remaining shares it did not own in Alliance Boots and that it expected the deal to be completed in 1Q15.
The relevant extract from Walgreens 1Q15 financial results, published on 23 December, follows:
Special Shareholder Meeting
Walgreens will hold a special meeting of shareholders on Dec. 29 in New York City. This follows the announcement made on Aug. 6 when the company exercised its option to complete the second step of its strategic transaction with Alliance Boots.
At the special meeting, Walgreens shareholders will be asked to consider and vote upon the following items, among others:
A holding company reorganization to establish Walgreens Boots Alliance, Inc. as the new publicly-traded holding company of the new combined enterprise; and the issuance of Walgreens Boots Alliance shares necessary to complete Step 2 of the strategic transaction.
Subject to shareholder approval, the company expects to close the second step of the Alliance Boots transaction on Dec. 31.