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Globalization may not be the goal for U.S. retail REITs any longer, but retailers themselves continue to look for new opportunities, including some surprising areas.
Last week, CVS's US$2 billion offer to acquire Brazilian drug store company DPSP, which operates the Drogaria Sao Paulo and Pacheco chains, reportedly was rejected, according to Reuters. CVS entered the country last year, acquiring Drogaria Onofre, the eighth largest chain in the country. And Walgreens has a six-month option to acquire the 55 percent of the United Kingdom's Alliance Boots it doesn't already own.
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