The company’s decision, which executives will discuss in a Wednesday morning conference call, ends months of speculation and a steady drumbeat of criticism from activists, unions and politicians, including President Barack Obama, surrounding a possible Walgreen move overseas.

The decision not to go through with a so-called tax inversion disappointed investors, who clamored for such a move because it would have added hundreds of millions to the company’s bottom line annually. They pushed shares of the Deerfield-based drugstore chain fell on the news as much as 7 percent in early afternoon trading on Tuesday before rebounding to close down $2.99, or 4.2 percent, at $69.12.