Walgreens Boots Alliance Inc (WBA)

[big-yank]

Hi robb. have been traveling with some friends from New Hampshire who were visiting us. Lucky guys missed the two foot snowfall in New England. And had some great Gulf Coast seafood.

Glad you found some value in the analyst's conference. I got so bored that I turned it off. I did look through the transcript, afterwards.

Did you note the reprised A-B financial data for their FY12? $2.2 billion in EBITDA. That's a lot, but their debt structure was very high, leaving little for Walgreens to devour after paying the ACQ costs. As a KKR follower, have you heard any update on their current year results for Q1 to Q3? By recollection their fiscal year ends 3/31, though my memory could be faulty on the date.

So much talk about the billion dollar integration cost savings, almost reminds me of the "re-wiring" savings that were claimed but never, in my mind, substantiated or proven as hard numbers in the results. I think they are dreaming on squeezing out even more preferred costs from big pharma for global purchasing leverage. I believe that this is both unlikely and actually illegal in some single payor countries.

GLTA,

Yank