Forum Home Page [see Broadridge note belo


The Shareholder Forumtm

independent review of issues relating to

Stock Buyback Policies


Walgreen Co.

for shareholder consideration in decisions about a

proposed merger into

Walgreens Boots Alliance, Inc.




Definition of Issues

relevant to shareholder interests in

Walgreen Co.

October 23, 2014

The Shareholder Forum has been asked to define issues concerning stock buyback commitments that may be relevant to evaluations of a proposed merger of Walgreen Co. into Walgreens Boots Alliance, Inc.

In an initial Forum Report the following subjects were presented for preliminary comments, inviting participation of Walgreen shareholders as well anyone with corporate or fund management responsibilities concerned with broader applications of buyback policies:

1. Calculated equity share of future enterprise

2. Risk impact on earnings projections

3. Comparison of committed and opportunistic buybacks

After learning the views of a broad range of investor interests, the Forum will present the defined issues for comments of Walgreen management and then invite questions and views of the company's shareholders.

(For a summary of Forum policies guiding this project, see Initiating the Definition of Issues.”)


For lists of reports, news, filings, analyses and other reference material

see the website page

Walgreen Project Reference


Forum Reports


December 1, 2014

Walgreen Adoption of “Engagement”

in Response to Information Requests


November 20, 2014

Proposing Walgreen Suspension of Buybacks

to Restore Credit Rating


November 17, 2014

Completing the Definition of Walgreen Buyback Issues,

and Considering the Example for Fair Investor Access


November 14, 2014

Initial Comments on Walgreen Buyback Issues


November 12, 2014

Walgreen Stock Buybacks: Issues to Be Considered by Investors


October 23, 2014

Long Term Investor Interests in Proposed Walgreen Stock Buybacks




The tool below for participant exchanges

was deactivated following

Walgreen's withdrawal from communication.





This program is open to all shareholders of Walgreen Co. (WAG) and to any fiduciaries or professionals concerned with their investment decisions. Participation is free of charge, according to the Shareholder Forum's standard Conditions of Participation.

The purpose of the program is to define issues relevant to long term shareholder interests in the proposed merger of Walgreen Co. into Walgreens Boots Alliance, Inc., and to support an impartial review and access to information required for investor consideration of the issues. As stated in the Conditions, all Forum participants are expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants. Forum polices are intended to support anonymous communication, and provide that participants will not be identified or quoted without their explicit permission.

Information requests and suggestions of issues that may be relevant to Darden shareholder interests can be addressed to the Shareholder Forum at


The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.

Shareholder Forum™ is a trademark owned by The Shareholder Forum, Inc., for the programs conducted since 1999 to support investor access to decision-making information. It should be noted that we have no responsibility for the services that Broadridge Financial Solutions, Inc., introduced for review in the Forum's 2010 "E-Meetings" program and has since been offering with the “Shareholder Forum” name, and we have asked Broadridge to use a different name that does not suggest our support or endorsement.