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Joe E. Lewis: "The way taxes are, you might as well marry for love."
Walgreen Co. Common Stock (WAG)
Alliance Boots Holdings Ltd (BOOT)
WAG Married BOOT, but Wag's foreign bride will not be taking WAG overseas. After much discussion, excoriation by the New York Times, and realization that inversion would also result in HIGHER taxation (BOOT'S COUNTRY WANTS prior year TAX REVENUE), the inversion was delayed indefinitely. Oh, also the prospect that Americans may not subsidize ¼ of the company's profits through medicare/medicaid in the future may play a role. The possibility that Americans would shop at other pharmacies instead played a role. The possibility that the IRS would audit, confiscate, fine, and sue WAG pharmacies also played a role. This created a bit of flummoxed faces on Wall St which expected WAG to flee to foreign soils in hopes of lowering its tax bills.
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