Retail News

Walgreens and Rite Aid to divest more stores to get FTC okay

The New York Times 01/30/2017

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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