Boom! Walgreens Buys Online Retailer Drugstore.com For $409 Million

Drugstore juggernaut Walgreens this morning announced that it will acquire online retailer Drugstore.com in a transaction with a total enterprise value of approximately $409 million. As a result of the merger, Walgreens will acquire the Drugstore.com website in addition to other websites operated by the company, including Beauty.com and SkinStore.com. Walgreens will fund the acquisition with existing cash and anticipates the transaction to close by the end of June 2011.

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