business news in context, analysis with attitude

BusinessWeek reports that Walgreen Co, maintaining that its $2.8 billion bid to acquire Longs Drug Stores is superior to a bid made by CVS Caremark, plans to take its offer directly to Longs shareholders if it cannot get management to give its offer serious consideration.

• The Seattle Times reports that McDonald’s is saying that the nation’s current economic woes won’t derail its plans for a national presence in the espresso business…despite the fact that Bloomberg reports that some franchisees have run out of money and cannot buy the espresso machines, and another report that the Bank of America won’t lend McDonald’s money for the equipment because it is buying Merrill Lynch and has other priorities at the moment.
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