Walgreens Boots Alliance Inc (WBA)

[big-yank]

Nanjing did $3.2 billion in pharma revenue for the latest reported period. $91 million for 12%... not so bad a deal, at first blush, that Pessina put together.

Any opinions on what M&A like this does to the purchase price of the remaining 55% of Alliance/Boots that Walgreens has yet to consummate? Does Walgreens now own 45% of 12% of Nanjing, or 0% of Nanjing? If more and more deals like this are planned for South America, did the purchase price for Alliance/Boots just escalate?

This is a HUGE question for shareholders.

Did Walgreens enhance its future with overseas diversification... or... did Walgreens risk everything and bet the family farm on a global adventure in an as-yet-to-be-defined and unannounced re-strategization of its existing business plan?

If I were an institutional investor, one of a number holding about 2/3 of WAG's total common shares, I would be scared to death to be placed in this Never-Neverland with so little concrete direction or guidance on what all this means. It almost looks like Walgreens has ceded directional control to KKR/Alliance/Boots and Skinner and the original Board have been relegated to irrelevent status as "bit" players in a bigger game in which they are sitting on the bench.

Thoughts, anyone?

Yank