The Walgreen Company to acquire British pharmacy chain for $5.27 billion, will keep headquarters in the U.S.
Despite speculation of an overseas move, The Walgreen Company announced Wednesday that it would acquire the rest of British pharmacy chain Alliance Boots — but that it will keep its corporate headquarters in the United States. The Walgreen Company's iconic chain of Walgreens stores is the largest drug retailer chain in America.
The Walgreen Company will pay $5.27 billion in cash in addition to shares to acquire the last portion of Alliance Boots that it did not already own. And while many had pinpointed Walgreens as ripe to take advantage of "tax inversion" and angle for a move overseas, the company announced that it would instead remain based in the Chicago area. According to The New York Times, this is because The Walgreen Company would have had to negotiate a new agreement with Alliance Boots in order to execute an inversion deal, and Alliance Boots was unwilling to do so.
Instead, Walgreens can continue to market itself as America's drugstore — and avoid some of the flack that fleeing for lower taxes might have elicited from the public. In a news release, the company touted its "unique role as an iconic American consumer retail company" and said it "concluded it was not in the best long-term interest of our shareholders to attempt to re-domicile outside the U.S." Kimberly Alters
Start making your "Yeezus 2020" shirts now: Kanye West is running for president.
During Sunday's MTV Video Music Awards, West made the announcement after accepting the Michael Jackson Video Vanguard Award from possible future running mate Taylor Swift. West spoke about how he is different now that he's a father and shared his love for other artists. "I will die for the art, for what I believe in," he said. "The art ain't always gonna be polite." Then, boom! West dropped this bombshell: "It's about ideas, bro, new ideas, bro. People with ideas. People who believe in truth. And yes, as you probably could have guessed by this moment, I have decided in 2020 to run for president."
The crowd went wild, but imagining First Lady Kim Kardashian might all be for naught, as West admitted right before his proclamation that he did "smoke something before he came here." This could go two ways: Either it was a joke made under the influence, or legalization will be his major campaign issue in 2020. Catherine Garcia
Last Week Tonight is off for two more weeks, and to fill the Sunday late-night TV chasm, John Oliver wants to regale you with his favorite lies. Like the one about Paul Revere's severe horse allergy, or the dark origins of Irish step dancing. There's one sort of off-color joke, but it's pretty clean (and short) for Last Week Tonight. Most importantly, Oliver had a message for fans trying to figure out what to do until Sept. 13: "Trust nobody — especially me." Enjoy Oliver's lies — especially the last one — in the video below. Peter Weber
Authorities in Brazil are searching for a mayor accused of stealing funds from schools and running her town via a mobile messenger app.
1 Lidiane Leite, Mayor of Bom Jardim, Brazil, is on the run after she was accused of siphoning off funds pic.twitter.com/kjEAqnCZZW
— Ryk Comerford (@Truth_Quest30) August 31, 2015
Prosecutors say that instead of living in Bom Jardim, Lidiane Leite, 25, resided 170 miles away in Sao Luis, the capital of Maranhao state. They say Leite — who was elected after her then-boyfriend, Beto Rocha, was barred from running for mayor in 2012 for alleged corruption — would use WhatsApp to check in with her cabinet, running the town's affairs remotely.
Leite took off when she was mentioned as part of Operation Eden, which discovered that $4 million earmarked for Bom Jardim's school was gone, the BBC reports. Bom Jardim is in one of the country's poorest states, and teachers in the town now aren't being paid. An arrest warrant was issued Thursday, and the town's new mayor was sworn in Saturday, promising to support a full investigation into the missing money. Leite's attorney, Carlos Barros, denies that his client did anything wrong. "She was too young and inexperienced when she took office," he said. "She lacked confidence and delegated many tasks to Mr. Rocha." Catherine Garcia
The red carpet for Sunday's MTV Video Music Awards had it all: Miley Cyrus in an ensemble featuring silver suspenders and not much else, Kanye West in your dad's old sweater, Taylor Swift and the collection of women she takes with her everywhere to remind you: She has friends. Take a look at some of the night's getups below. Catherine Garcia
Writer-director Wes Craven, best known for the blockbuster Nightmare on Elm Street and Scream movies, died Sunday in Los Angeles from brain cancer. He was 76.
His family confirmed Craven's death Sunday evening. Craven started working in academia, then left to pursue a career in Hollywood. His first feature film, Last House on the Left, came out in 1972. Craven came up with the idea for the Nightmare on Elm Street movies, which were released from 1984 to 1989, when he was growing up in the suburbs of Cleveland, The Hollywood Reporter says, and lived next to a cemetery. Catherine Garcia
On Sunday, the father of slain WDBJ7 reporter Alison Parker reiterated comments he made on Wednesday, saying he would push for gun control legislation and adding, "They messed with the wrong family."
Parker, 24, and cameraman Adam Ward, 27, were shot and killed live on air by a former employee of their Virginia television station. Her father, Andy Parker, told CNN that her family and boyfriend, WDBJ7 anchor Chris Hurst, would "hold the politicians' feet to the fire" in order to enact "real, constructive" legislation that would "get guns out of the hands of people who should not have them." He added, "You always think there's a tipping point. We always thought when Gabby [Giffords] was shot, something would happen; with Sandy Hook, something would happen; with Aurora, something would happen, and it never did."
Parker said he has been in contact with Giffords' husband, Mark Kelly; Sen. Mark Warner (D-Va.); and representatives of former New York Mayor Michael Bloomberg. He believes people are tired of the "same old same old" in Washington, and that's why candidates like Sen. Bernie Sanders (I-Vt.) and Donald Trump are doing well in the polls. "The difference in this situation is [the feeling has] got to apply to sensible gun control legislation," he said. "Controlling the loopholes in gun shows, doing those kinds of things." Catherine Garcia
The tallest peak in North America is getting a name change: Alaska's Mount McKinley will now be called Denali, the White House announced Sunday.
"With our own sense of reverence for this place, we are officially renaming the mountain Denali in recognition of the traditions of Alaska Natives and the strong support of the people of Alaska," Interior Secretary Sally Jewell said. In 1898, a prospector named the mountain after William McKinley, who had just become the Republican nominee for president. The mountain — which stands at 20,320 feet and grows one millimeter every year — has long been called Denali (the Athabascan word for "the high one") by Alaskans. Since 1975, there has been a standing request by the state to change the name back to Denali, but politicians from McKinley's home state of Ohio always fought to keep it.
Obama will arrive in Alaska on Monday for a climate change summit in Anchorage. He will also meet with fisherman in Dillingham, hike a glacier in Seward, and cross the Arctic Circle to visit the rural town of Kotzebue, The Associated Press reports. In addition to bringing attention to melting glaciers and other issues, Obama is expected to detail steps that will be made to assist Alaskan Native communities. Catherine Garcia