Walgreen to buy rest of Alliance Boots, stay based in US-Sky News

Tue Aug 5, 2014 2:58pm EDT

Aug 5 (Reuters) - U.S. pharmacy chain Walgreen Co will buy the remaining 55 percent of European drug chain Alliance Boots that it does not already own in a deal valued at about 5 billion pounds ($8.4 billion), Sky News reported, citing sources.

Walgreen is expected to remain headquartered in the United States rather than pursuing a tax inversion that would involve moving its corporate headquarters to the UK or Switzerland, Sky News said. (bit.ly/1s8OOku)

($1 = 0.5925 British Pounds) (Reporting by Ramkumar Iyer in Bangalore; Editing by Maju Samuel)

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