Walgreens and Rite Aid to divest more stores to get FTC okay
January 31, 2017
Walgreens and Rite Aid said they would now sell up to 1,200 stores to gain approval for a merger between the two drugstore chains. Walgreens, which initially offered to pay $9 a share to acquire Rite Aid, has lowered the value of the deal to between $6.50 and $7 a share. Shares of Rite Aid fell nearly 15 percent on the news.
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