Walgreens Not Moving to Europe

Walgreens has decided that after completing the acquisition of European drugstore chain Alliance Boots, it will keep headquarters in the Chicago area. Walgreens had been planning on having the country listed in Europe to reduce taxes, but it realized the move was unlikely to be approved by the IRS and was also aware of public outcry. It also was influenced by the significant part of its revenue coming from government-funded reimbursement programs. Almost 50 companies have relocated in the first half of 2014 in a procession called tax inversion, which President Obama said is unpatriotic.