Walgreens Boots Alliance Inc (WBA)

[big-yank]

In my dream as it continues, the Big W's stars, as in Walgreens and Wasson, are in perfect alignment with the path forward. The purchase of the remaining 55% of A-B will be moved up and either mostly or entirely funded by stock trading at an all time high. Best of all, the shares will not be dilutive because the assets and income generated in the 2nd tranch purchase will enhance WAG's current metrics on an off-setting basis. And by issuing stock, little-to-no additional borrowings are necessary, except for new ventures that enhance the global perspective and drive into wholesale markets.

This is a HUGE win/win for shareholders on-board with Walgreens. The tax inversion, if it happens, is almost immaterial in comparison to the enormity of benefits from the balance of the changes in play. My snapshot figures a potential tax savings of around $750 million with a move to a 20% tax structure such as England on Walgreens existing US business. That number could easily double depending on the future of the ABC deal. The rewards easily exceed the backlash risks if the inversion should take place.

My dream lives on...