NEW YORK — With Pfizer's targeted takeover of AstraZeneca, there's been much talk about inversion, or the practice of re-domiciling a company's headquarters to another country in an effort to save on corporate taxes. It's a hot topic among Fortune 500 companies, The New York Times noted earlier this week, reporting that at least 17 companies have reached out to their banks to explore possible inversion-inspired acquisitions.
The talk has extended to the Walgreens/Alliance Boots deal — beginning in February 2015 Walgreens will have six months to decide whether or not to acquire Alliance Boots outright — though Walgreens has not given any indication that it's considering an inversion.
During the company's last conference call on March 25, president and CEO Greg Wasson suggested that a Walgreens inversion was not up for consideration. "We have no plans to … do an inversion or re-domicile the company," he told analysts. "What we are focused on frankly is [making] sure that we put our board and our shareholders into position to make the right decision on step two."
"We regularly meet with our investors and always welcome their input," Walgreens spokesman Michael Polzin shared with DSN. "Over the past year, we have made significant progress in our strategic partnership with Alliance Boots as we move toward the window for exercising the second step of our transaction. Our focus is always on analyzing and doing what is in the best long-term interest of our company and its shareholders, and when we have something more definitive to announce about our future structure and strategies, we will do so."