Pension adviser CTW Investment Group wants the Securities and Exchange Commission to investigate whether private meetings between top Walgreen executives and investors urging the Deerfield-based drugstore chain to move its headquarters overseas violated fair disclosure rules, the New York Post reports.
Walgreen executives are expected to announce in late July or early August whether the company will complete a takeover of Swiss health and beauty retailer Alliance Boots, a move that could involve an overseas reincorporation. Moving its legal headquarters to Europe would reduct its tax rate, saving the company possibly $780 million.
Call for SEC probe into Walgreen’s meetings on moving offshore (New York Post)
Walgreen’s Swiss switch idea tied to tax savings, but some see clouds with inversion
