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Walgreens Investors Want to Leave The U.S. for Europe Creating a Tax Inversion

Walgreens shareholders want the U.S. pharmacy chain to consider relocating to Europe. It would be one of the largest tax inversions ever attempted by a company. Investors owning close to five percent of Walgreens shares lobbied the company's management to use its $16 billion takeover of Swiss based pharmacy Boots to re-domicile its tax base. Analysts at UBS said Walgreens tax rate was expected to be 37.5 percent compared with only 20 percent for Boots.