Correction, 8/7/14, 10:51 a.m.: An earlier version of this story misidentified the law firm representing Alliance Boots in its stake sale to Walgreens. Darrois Villey Maillot Brochier advised Alliance Boots while Simpson Thacher & Bartlett took the lead for Kohlberg Kravis Roberts, an Alliance Boots controlling investor. The story has been updated accordingly. We regret the error.
In a reversal of the popular but controversial trend of U.S. companies moving overseas to save on taxes, Walgreens said on Wednesday it would buy the stake in Alliance Boots it doesn’t already own for $15.3 billion in cash and stock but keep its current Illinois tax address once it takes full ownership of the chain.
