On Tuesday morning, Walgreen (WAG) had a very busy set of announcements with Q312 earnings, a dividend boost, and more importantly the purchase of 45% of Alliance Boots for $6.7B. In reaction, the stock suffered a decline of nearly 6% on a day when the stock market rose roughly 1%. Apparently the market wasn't very happy with some of the announcements. Let's review the details:
The company announced a deal to buy 45% of Alliance Boots for $6.7B. The deal is expected to be accretive by $0.23 to $0.27 in the first year following completion of the deal.
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