Dec. 20--When Walgreen combines with European-based Alliance Boots, it intends to drop its "WAG" ticker symbol for the ticker symbol "WBA."
Walgreen said Friday it informed the New York Stock Exchange and the Chicago Stock Exchange that it will voluntarily withdraw its common stock once it begins trading on Nasdaq at the end of the first quarter.
The drug store chain operator said it decided to trade on a single national securities exchange once it becomes Walgreens Boots Alliance to reduce administrative costs and burdens associated with maintaining the listing on multiple exchanges.
As previously reported, Walgreen CEO Greg Wasson will step down after the company completes its acquisition of European counterpart Alliance Boots.
Walgreen Chairman James Skinner will become executive chairman of the combined company. Stefano Pessina, 73, a nuclear engineer-turned drugstore mogul and the executive chairman of Alliance Boots, will serve as acting CEO of the new company, pending a board search for a successor.
Walgreen shareholders are set to vote Dec. 29 to complete the purchase of Alliance Boots. The deal is expected to close by the end of March, pending various governmental approvals.
jwernau@tribpub.com
Twitter @littlewern
