Citigroup just had to restate Q3 earnings after revealing a $600M charge for legal expenses. This is part of a continuum of scandals from management failure after failure, yet you promote C and relentlessly bash Walgreens. All Walgreens did was correct a mathematical error in forward guidance. Walgreens will have zero problem financing the balance of the A-B deal.
The only risk to Walgreens in the Miquelon Kabuki Theatre Show lies in the claims of impropriety that link Wasson, Pessina and the corporate counsel to behavior that could require their discharge, if proven. Of the three, Pessina would be the larger casualty for WAG shareholders as his vision drove A-B to the point where it became attractive to Walgreens. I view this possible outcome as highly unlikely as Miquelon's "scorched earth" rhetoric is likely to be heavily discounted by the Board of Directors as self-aggrandizing and, frankly, juvenile.
You constantly carp about Walgreens being "financially engineered" like its some ultimate truth and somehow indicates management chicanery of some sort. I fail to find fault with share buybacks, file buys, acquisitions, real estate sale/leaseback deals or changes in wholesale supply that result in improved metrics that drive S/P upward. These are responsible moves that show management resolve to drive VALUE for shareholders, not some negative agenda that only you seem to have unearthed in unrelenting diatribes against Walgreens.
WAG has recovered around $6 since its recent sell-off t0 $58. Obviously someone still has faith in the company.
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