CtW Investment Group: Walgreen Boots Alliance Needs Strong, Independent Board Oversight to Navigate Substantial Challenges Ahead
NEW YORK, Dec. 29—The following statement on the Walgreen shareholder vote to approve the company’s acquisition of Alliance Boots can be attributed to Dieter Waizenegger, Executive Director of the CtW Investment Group:
“Shareholders are left with too many unanswered questions about how the combined company will meet optimistic performance goals and how it will correct governance failures that became painfully obvious in the past year.
“There has been inadequate disclosure about the deal’s negotiation, the plans to obtain many touted synergies, and even who will lead Walgreens Boots Alliance. A $25 billion transaction should never be a leap of faith for shareholders, but that’s exactly what this vote was.