Supermarket giant Kroger is feared to be close to passing on acquiring some the 650 stores that Walgreens and Rite Aid would have to sell to gain regulatory approval of their $17 billion merger, sources said.
Kroger at first expressed interest in buying the stores — becoming the best hope for Walgreens to win Washington’s OK on its deal.
The country’s largest supermarket chain came along after several private equity firms had passed on buying the locations — determining they were too spread out geographically and of not a critical mass to profitably compete, sources said.. . . more