Walgreens Boots Alliance Inc (WBA)

[big-yank]

Robb, I'm not sure that I have a helpful opinion on how Pessina and KKR may direct future strategy at Walgreens. Just looking at the superficials, my guess is that Pessina would like to see Walgreens succeed in some form of global pharmacy juggernaut with him as largest shareholder and KKR would like to take WAG private, restructure and either sell or re-enter public markets in a few years... rather like the Duane Reade saga of a few years ago.

It's all about money.

Stefano is an operating guy whose Curriculum Vitae reveals a preference for managing growth. KKR's principles have a track record for buying distressed/undervalued assets, taking them private (if public) and grooming them to be spun at a later and large profit.

It will be interesting to find out, over time, if there is a harmonious strategy between Pessina and KKR regarding Walgreens future. My visceral instinct says maybe not so happy...

GLTA,

Yank