If Walgreens was truly smart they would announce a donation of a heavy % of all tobacco sales profits to a Cancer Charity which would neutralize CVS's move while preserving the smoking clientele and all the non-tobacco stuff they might buy over the course of a year. Walgreens has now moved into the global market where, unlike in the U.S., smoking is viewed differently on a cultural, social and medical basis. This is especially true in Asian markets which have been slow to jump on the anti-smoking bandwagon. It will happen eventually... who would ever have thought the French would ban or limit smoking in restaurants... but no time soon, IMO. It would be viewed as disingenuous or even hypocritical for Walgreens to drop cigarettes and tobacco here and not consistently impose a similar ban in other countries.
The London conference was co-hosted by Deutsche Bank. It is clear that Walgreens is trying to open up broader financial backing beyond its domestic banking partners. Tells me another huge deal could be brewing. I firmly suspect that the financing for deals on the table are already in the bag. Another blockbuster deal would not surprise me, at all.
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