Wednesday, February 17, 2010

Everywhere You Go, Walgreen! -

Everywhere You Go, Walgreen! -
"Walgreen looks to expand its footprint in the New York City market.

The Deerfield, Ill.-based drugstore operator said it will acquire Duane Reade in a deal worth $1.1 billion that includes the assumption of $457 million in debt. Walgreen plans to pay cash for the acquisition, which will add to its portfolio of 7,100 locations across the country."

For class: note a horizontal merger. Firm paid cash. Walgreen was up on the news.

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