April 14, 2014
By Lewis Lazare
Just what Illinois didn’t need.
Even as the state is battling an image that it is inhospitable to business, a report in theFinancial Times on Sunday suggested one of the state’s most iconic homegrown brands, drug store behemoth Walgreens(NYSE: WAG), could be considering moving its corporate headquarters to Europe from north suburban Deerfield, Ill.
The reason? Relocating the corporate headquarters to Europe would provide significant tax advantages, a plus in the eyes of several of the company’s large shareholders, including Goldman Sachs Investment Partners and hedge funds Jana Partners and Corvex, that met with top Walgreens executives in Paris late last week, according to the Financial Times.
Of course, as if is often the case when hot-button news stories surface, Walgreens quickly moved to put a damper on any speculation that a move might be imminent.