Thursday, December 22, 2016

Walgreens acquisition of Rite Aid expected to close in early 2017

Walgreens Boots Alliance’s acquisition of Rite Aid took a big step forward with announcement of the divestiture of 865 Rite Aid stores to Fred’s Pharmacy for $950 million. 
The transaction now has an expected closing date of early 2017.  In its 2017 fiscal third-quarter earnings release, Rite Aid said that Walgreens is “actively engaged in discussions” with the U.S. Federal Trade Commission to close the transaction quickly, but “there can be no assurance that the requisite regulatory approvals will be obtained, or that the transactions will be completed within the required time period.”. . . more

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