Follow-up question to Walgreens investors on Alliance/Boots...
Is Pessina's role on Walgreens Board of Directors a conflict of interest with his role at Alliance/Boots, or vice versa? It strikes me that Pessina may be steering deals that enhance his eventual position as substantial owner of the balance of A/B shares by creating a larger entity that Walgreens is required to purchase at some later date.
I do understand that Pessina owns a huge chunk of WAG shares so I am not inferring that his views are totally unaligned with other shareholders. However, he potentially stands to gain more by enhancing as a board member the value of A/B as it heads towards the 2nd tranch of acquisition, compared to other outcomes including alternative M&A, dividend enhancement or share retirement with buybacks, etc. which might be more immediately beneficial to pre-A/B Walgreens shareholders.
Again, comments appreciated.
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