DEERFIELD, Ill. – As has been expected, Walgreens Boots Alliance Inc. and Rite Aid Corp. announced earlier this month that the two companies have each received a request for additional information (“second request”) from the Federal Trade Commission in connection with WBA’s proposed acquisition of Rite Aid.
The second request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 — as amended the “HSR Act.” This second request is a standard part of the regulatory process to be carried out in connection with the FTC’s review.
The transaction, which was announced in October, is subject to approval of Rite Aid’s stockholders and satisfaction of other customary closing conditions, including expiration or termination of the waiting period under the HSR Act.
The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after WBA and Rite Aid have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.
WBA and Rite Aid have been cooperating with the FTC staff since shortly after the announcement of the proposed acquisition.
Both companies say that they expect the transaction to close in the second half of calendar 2016.