Business

Market Movers

Walgreen to buy stake in retailer

The deal would give Walgreen Co. access to emerging markets like China and Egypt, company officials said.

Sergio Dionisio/Associated Press

The deal would give Walgreen Co. access to emerging markets like China and Egypt, company officials said.

Advertisement

Walgreen Co. will pay $6.7 billion in cash and stock to buy a stake in European health and beauty retailer Alliance Boots, a deal that would give global clout to a US drugstore chain struggling with slipping sales in its home market. CEO Greg Wasson said the acquisition is ‘‘a truly game changing step’’ for his company but investors aren’t so sure. Shares slid.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com