Report: Walgreen mulls buying rest of Boots in strategy to cut tax rate

|By:, SA News Editor

Walgreen (WAG) is thinking about buying the 55% in European peer Alliance Boots it doesn't own, The Sunday Times reports.

Taking inspiration from Pfizer in its pursuit of AstraZeneca, Walgreen would then move its domicile to the U.K. or Switzerland in order to lower its tax rate and save billions of dollars a year.

Walgreen purchased 45% of Boots in 2012 in a cash-and-stock deal worth $6.7B and has a three-year option to acquire the rest.