The street says WAG " overpaid " for Alliance Boots’
It attempted to supplement its lost Express Scripts business by buying a 45% stake in Swiss Alliance Boots with an eye on expanding international sales. The deal, though, was derided by analysts, who questioned Walgreen’s ability to smartly control the situation.
“U.S. drug retailers have not historically acquired international companies, and Walgreen’s integration experience, especially on this scale, is limited,” Citi analyst Deborah Weinswig said at the time. “While the transaction creates some global opportunities, we believe it does not resolve Walgreen’s issues in the U.S.”