NEW YORK — The impending closure of Walgreens Boots Alliance’s purchase of nearly 2,000 Rite Aid stores will clear the fog around both companies since their terminated merger deal and enable them to move ahead, Wall Street analysts say. WBA and Rite Aid yesterday announced that the Federal Trade Commission approved a downsized agreement in
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) announced today that it has secured regulatory clearance for an amended and restated asset purchase agreement to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corp. for $4.375 billion in cash and other consideration. The amended and restated purchase agreement between the parties
NEW YORK — Walgreens Boots Alliance (WBA) reportedly is modifying its agreement to buy 2,186 stores from Rite Aid Corp. to gain Federal Trade Commission approval for the deal, reached upon the termination of their planned merger. Bloomberg reported early Monday that WBA is winding down talks with the FTC and could soon unveil an
NEW YORK — Walgreens Boots Alliance Inc. and Rite Aid Corp. are rescheduling the waiting period for a downsized store sale agreement reached upon the termination of their planned merger. According filings with the Securities and Exchange Commission yesterday, WBA and Rite Aid agreed to withdraw their initial Hart-Scott-Rodino (HSR) Antitrust Improvements Act notification and
CAMP HILL, Pa. — Rite Aid Corp. expects to strengthen its store base with the sale of nearly 2,200 units to Walgreens Boots Alliance Inc. (WBA). In a filing with the Securities and Exchange Commission, Rite Aid said it would have 2,336 stores following the sale, compared with 4,522 currently. The chain said that its
CAMP HILL, Pa. — Rite Aid Corp. has provided a more detailed picture of its store base after the expected closing of its deal to sell nearly half its stores to Walgreens Boots Alliance (WBA). In a filing with the Securities and Exchange Commission, Rite Aid said it would have 2,336 stores following the sale
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) announced on Tuesday a binding offer from Fareva for a 10-year global agreement for the manufacture and supply of own brand beauty products and private label items, including products for sale in the United States. The proposed agreement will create a partnership to provide WBA with a
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) announced that it is scrapping its plans to buy Rite Aid Corp. and instead will acquire only a portion of the drug store chain, after the original takeover effort seemed doomed by the Federal Trade Commission. The new agreement replaces a previous merger deal with Rite Aid
Walgreens Boots Alliance Inc.’s (WBA’s) plan to acquire Rite Aid Corp. in its entirety is, for now, dead. For some, it was an inevitable conclusion to a strategy that was full of holes. For others, by far the majority, it was a surprising conclusion to a well-conceived plan to increase the already dynamic presence of
DEERFIELD, Ill. — Analysts said Walgreens Boots Alliance turned in a solid third quarter and stands to emerge on a positive note from its new deal with Rite Aid Corp. upon the termination of their merger. For the third quarter ended May 31, WBA posted net earnings (GAAP) of $1.16 billion, or $1.07 per diluted
NEW YORK — In a memo to employees this week, Rite Aid Corp.’s top executives appear to acknowledge that the company’s acquisition by Walgreens Boots Alliance (WBA) may not be cleared by the Federal Trade Commission. “We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval, and there can be
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) and Rite Aid Corp. said they have met the Federal Trade Commission’s second request for information on their planned merger. Late Monday, WBA and Rite Aid announced that they have “certified substantial compliance,” meaning that they have provided the information needed to determine if the Walgreens-Rite Aid merger