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
The United Nations Security Council condemned North Korea on Sunday for defying international warnings in launching a long-range rocket that many believe is a cover for a test of a ballistic missile that could reach the United States mainland.
All 15 Security Council members approved a statement at an emergency meeting emphasizing that using ballistic missile technology violates four resolutions, The Associated Press reports. The group also vowed to adopt a new resolution soon with "significant" sanctions for North Korea. Julie Kliegman
In a Monmouth University poll released Sunday, Donald Trump leads the Republican field with 30 percent of the support from likely New Hampshire primary voters. Marco Rubio and Jeb Bush are tied for 13 percent, with Ted Cruz notching 12 percent.
On the Democratic side, Bernie Sanders leads Hillary Clinton, 52 percent to 42 percent.
The poll's margin of error is 4.4 percentage points. On Tuesday, New Hampshire will be the second state to vote in the primaries. Julie Kliegman
Bernie Sanders distanced himself Sunday from "Berniebros," a wide-ranging term that some have used to describe sexist supporters of the Vermont senator.
"It's disgusting," he said on CNN's State of the Union. "We don't want that crap. Anybody who is supporting me and doing sexist things, we don't want them. I don't want them. That's not what this campaign is about."
At Saturday's Republican presidential debate, Florida Sen. Marco Rubio attacked President Obama. A lot. To be exact, Rubio attacked Obama four times with some version of, "Let's dispel with this fiction that Barack Obama doesn't know what he's doing. He knows exactly what he's doing."
His performance was widely mocked.
True story: 8-year-old daughter walks through room as Rubio says,"Obama knows exactly what he's doing" and says, "Didn't he just say that?"
— Willie Geist (@WillieGeist) February 7, 2016
I hope someone out on the trail today asks Rubio whether he thinks President Obama knows exactly what he's doing.
— Hunter Walker (@hunterw) February 7, 2016
Pull his string and Rubiobot says "Barack Obama knows exactly what he's doing..."
— Lydia Polgreen (@lpolgreen) February 7, 2016
But Sunday on ABC's This Week, Rubio stood by his talking point.
"It's what I believe and it's what I'm going to continue to say, because it happens to be one of the main reasons why I am running," he said.
In other words, Rubio knows exactly what he's doing. Julie Kliegman
Beyoncé released a new single and music video Saturday, marking her first major release since she surprise-dropped her self-titled album in 2013. "Formation," which heavily references Hurricane Katrina and the Black Lives Matter movement, centers on black pride.
I guess it's flattering that people fuck with the things you've created but also frustrating when they wanna use it like it's theirs.
— chris black (@TheBlack) February 6, 2016
Beyoncé's representative countered that the footage is properly licensed. Julie Kliegman