Tuesday, January 31, 2017

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

Concerns about regulatory approval have weighed on Walgreens Boots Alliance’s bid to buy a top drugstore rival, Rite Aid, as the two cut the price of the deal while pushing back the expected closing date by six months.

The ultimate purchase price will be determined by how many more Rite Aid stores the combined company will sell to win antitrust approval above the 1,000 that Walgreens had previously agreed to. Under the new agreement, Walgreens said that it was willing to sell up to 1,200 stores.. . . more

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