Walgreens is not headed to Europe. But it is going to Delaware.
The U.S.’s largest drugstore chain, following in the footsteps of more than half of the nation’s publicly traded companies, plans to incorporate in The First State following the completion of its acquisition of its European counterpart.
The new holding company that will emerge from the acquisition of Alliance Boots, Walgreens Boots Alliance Inc., will have its operational headquarters in Chicago but will be legally domiciled in Delaware, according to a securities registration document filed Tuesday.
Under the corporate reorganization, Deerfield, Ill.-based Walgreen Co. and Swiss-based Alliance Boots GmbH will become wholly owned subsidiaries of the new holding corporation.
Walgreen, which is currently domiciled in Illinois, will maintain its corporate and operational headquarters in suburban Chicago. Alliance Boots will keep its operational headquarters in the United Kingdom.