WASHINGTON (Reuters) - The senior U.S. senator from Illinois said on Wednesday he hopes that Walgreen Co, the major drugstore chain based in his state, will not relocate its tax home base to Switzerland, as some of the company's investors favor.
Richard Durbin, the second-highest ranking Democrat in the Senate, told Reuters in an interview that he spoke with a WALGREEN (WAG.NY)lobbyist on Tuesday. "I told him I hope that the rumor's not true," Durbin said.
Doing an "inversion" deal with Switzerland's Alliance Boots Holding Ltd, as some Walgreen investors are advocating, would damage the Deerfield, Illinois-based company, he said.
"Because of their national reach, they are a uniquely American company and I think it would really hurt their image if they decided to give up on this country and to head overseas to make a couple extra dollars," he said.
Durbin plans to introduce legislation on Thursday addressing inversion deals. He said he favors related bills in the Senate.
(Reporting by Kevin Drawbaugh; Editing by Marguerita Choy)
