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Summers said Swiss-based Alliance Boots appears under-exposed to Europe's most challenged economies, and the expansion is a better alternative than increasing market share in the United States, where Walgreen might face antitrust concerns. "In short, the strategic rationale is not too difficult to comprehend and, it appears to us, market participants are making the discussion more complicated than necessary," he wrote. UBS analyst Jason DeRise said in a separate note the deal gives the companies better purchasing power for generic medicines and a platform for future partnerships, among other advantages. SHARE ACTION: Up 2.9 percent, or 84 cents, to $29.99 in Friday afternoon trading, while the Standard & Poor's 500 index rose less than 1 percent. The stock tumbled 11 percent after closing at $31.96 on Monday. It then rallied after hitting $28.53 on Wednesday, its lowest price since September 2010. Despite the recent rally, Walgreen's stock price is still far below the nearly $45 per share it fetched a year ago, before the drugstore chain said it would part ways with Express Scripts.
[Associated
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