London, Aug 07 : American pharmacy giant Walgreens is set to acquire Alliance Boots in a nine billion pounds deal, says a report.

Walgreens already owned 45 percent of the company's shares which it purchased in 2012 and now it will not seek the shareholder's approval to purchase the rest. The deal is expected to be hammered in the first quarter of 2015, reported the Daily Express.

Describing the merger as an important step towards becoming a global healthcare leader, Stefano Pessina, executive chairman of Alliance Boots, said that the new enterprise will represent an important milestone in the history of Alliance Boots.

The new enterprise will now be called Walgreen Boots Alliance and will be based in Chicago. However, the headquarters of Boots will continue to be in Nottingham where it was founded in 1849. (ANI)