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Old 09-19-2017
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Default Walgreens gets approval to buy 1,900+ rite aid stores, posted on 09-19-2017 07:03 PM

Walgreens gets approval to buy 1,900+ rite aid stores

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https://www.yahoo.com/finance/m/0...fewer.html

In its fourth attempt, Walgreens Boots Alliance Inc. clinched regulatory approval for a deal to buy Rite Aid Corp. stores after a last-minute reduction of the number of stores and price. The drugstore chain said Tuesday it secured clearance for a revised deal under which it will buy 1,932 Rite Aid stores for $4.38 billion. The deal, once completed, will be a hard-won victory for Walgreens Chief Executive Officer Stefano Pessina, who has pushed for a transaction that could clear regulatory approval since the fall of 2015. The modified agreement, while reduced, will still enable Walgreens to dramatically expand its footprint and become a more powerful competitor for CVS Health Corp. With the addition of the Rite Aid stores, Walgreens will have about 10,000 locations in the U.S. ...



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