Tomahawk, WI 06/04/2014 (Basicsmedia) – Walgreen Company (NYSE:WAG)‘s share prices reached the zenith – ‘All Time High,’ during early trading on June 2, 2014. However, a recent achievement has been marred to an extent by legal tangles and share-holders’ pressure.

European Destination Versus Chicago – Disseminated Views

Walgreen Company (NYSE:WAG), which is headquartered at Deerfield in Illinois, is currently facing rebellion from a coterie of shareholders, who is continuously demanding the company to move its operating headquarters to a destination in the European Union! A group of advisors has also seconded this thought and urged the CEO of WAG, Greg Wasson to move to Europe, so as to take the available advantage of associated lower corporate taxes in EU. However, the WAG management has other plans—they are looking forward to relocating to the Old Post Office premises, in downtown Chicago.

If the company’s decision makers stick to this plan, Chicago will be hugely boosted, whereas the Deerfield area will witness a severe setback. Moreover, on the company’s part, the propositions could result in losing a fair number of local Deerfield employees; Walgreen Company (NYSE:WAG) has already lost quite a few employees, already.

The Chicago Deal

It is tough to fulfill myriad business endeavors without sumptuous tax incentives. The fringe management employees are bent upon inferring a deal with the WAG owner, Bill Davies. The building was bought in 2009, for a whopping $24 million, and spans over 2.7 million sq feet.

WAG is eyeing luring tax incentives and hence its executives have been in regular talks with the Quinn administration. The company announced about investing $75 million additionally for the benefit of the region; further, it aims to create more than 500 jobs for the locales! The idea is to notch up a whopping $47 million in the form of incentives. Jones Lang LaSalle Inc., a real estate firm, is WAG’s advisor regarding this deal.

Springfield Legal Tangles Sink The Stocks Marginally

On June 3 in Springfield, Chris Koster, an Attorney General, announced a lawsuit against Walgreen Company (NYSE:WAG), accusing the nation’s largest and top notch pharmacy chain of instances of deceptive advertising, and how the consumers were overcharged in appalling manners. Confusions surged as around 43 drugs were sold at multiple charges, with no discounts ushered, quite contrary to the advertisements. Jim Graham, Walgreen Company (NYSE:WAG)’s spokesperson came up with a sweetly gilded condemnation and disagreed with the attorney’s accusations. He confirmed that the company shall hit back with appropriate and constructive dialogs.

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