Walgreen's Europe Bet-WSJ

Walgreen’s (WAG) made big news after spending $6.7 billion to buy 45% of Alliance Boots.  This acquisition doesn’t make sense to me unless Walgreen’s eventually ends up buying the whole company.  I understand that this acquisition should help the combined companies lower procurement costs, but it also increases the risks by doubling down on retail pharmacy.  I think the first initiative should be to work together to attempt to be the leading online distributor of prescriptions to protect themselves from competitors with less overhead.  I believe this acquisition is more of a panic move than anything else.

http://online.wsj.com/article/SB10001424052702303836404577476091902791460.html?mod=business_newsreel