news March 25th, "Fortune 500 company Wall Green (headquarters of the United States, mainly engaged in retail pharmacies online) plans to acquire Drugstore.com for $429 million, in an attempt to dominate the supply chain network pharmacies.
Drugstore.com is an online retailer, it has not been a profit for the year, the company listed on the Nasdaq, Wall Green for $3.80 per share, which is almost twice as drugstore.com Wednesday’s closing price. Today, after the opening of the Drugstore.com rose 111.17% (as of Beijing time at 1 points to 04 points).
Wall Green recently sold part of the business, focusing on retail and health care.
Drugstore.com on the Internet to sell health, beauty, skin care products and other products, the company in 2010 sales of $456 million, while in 2010, Wall Green’s sales of $67 billion. Wall Green did not split their online business.
Wall Green is expected to purchase at the end of June, and the profit target of 2011 decreased by 3 percentage points; at the same time, the expected 2012 profit decreased 3-4%, 1-2% decreased in 2013.
Drugstore.com was founded in 1998, before the destruction of the Internet bubble, its share price of up to $70, but has not been able to reproduce prosperity. Recently, the company has been under pressure from Amazon and WAL-MART, some large companies have started their own online direct selling products, such as Procter & gamble.
Morningstar analyst Matthew Coffina said: I think the online business will be more competitive, but it is not easy for each enterprise to gain a competitive advantage." He believes that the acquisition will undermine the value of.
Wall Green market capitalization of up to $36 billion, $429 million acquisition scale is not large. In the past two years, pushing the development of online business.