The privately held owner of Safeway, Vons and other grocery brands is plunging deeper into the pharmacy business with a deal to buy Rite Aid, the nation's third-largest drugstore chain.
Shareholders of Boise,
Idaho-based Albertsons will own more than 70 percent of the combined
company, which is expected to trade on the New York Stock Exchange. The
companies say the deal should close in the second half of this year, but
regulators and Rite Aid shareholders still have to approve it.. . . more