3 25th news, Fortune 500 companies Walgreen (the headquarters of United States, mainly engaged in retail) plans to 429 million dollars to acquire online pharmacy Drugstore.com, to dominant on a network pharmacy supply chain.
Drugstore.com is an online retailer, since it did not receive an annual profit, the company listed on the NASDAQ, Walgreen acquisition price of us $ 3.8 per share, it is almost 1 time times the drugstore.com Wednesday closing market prices. Drugstore.com rose after opening today of 111.17% (as 1:04 ').
Walgreen recently sold part of the business, will focus on retail and healthcare.
Drugstore.com the online sale of health, beauty, clinical skin care and other products, company sales in 2010 to $ 456 million, and sales of US $ 67 billion for 2010 Walgreen. Walgreen their online business is not split.
Walgreen expected the deal concluded at the end of June, and profit goals to reduce 2011; at the same time the lower profits expected in 2012 3-4% 2013 reduce 1-2%.
Drugstore.com was founded in 1998, before the destruction of the Internet bubble, its stock price up to $ 70, but has failed to reproduce the prosperity ever since. Company recently received a weight of Amazon and Wal-Mart, some large companies have their own start online direct selling products to the user, such as Procter.
Morningstar Matthew Coffina, an analyst says “ I think online businesses more competitive, but each enterprise to gain a competitive advantage is not easy. &Amp;rdquo; he believed that acquisitions destroy value.
Walgreen worth up to us $ 36 billion, US $ 429 million acquisition of scale is not large. In the past two years, pushing woergelinli online business development.
