Walgreens-Rite Aid Merger on Again

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Walgreens-Rite Aid Merger on Again

09/21/2017

It looked to be over, but the merger of drug store operators Walgreens and Rite Aid is once again going forward, this time with an amended and restated asset purchase agreement that Walgreens Boots Alliance Inc. (WBA) will buy 1,932 stores, three distribution centers and related inventory from Rite Aid Corp. for nearly $4.4 billion in cash.

The new agreement replaces the earlier purchase pact the two companies forged in June, consisting of 2,186 Rite Aid stores and related assets for $5.175 billion in cash, instead of a merger, which was stymied by antitrust issues.

Read more about the pending Walgreens-Rite Aid merger on the website of  PG sister publication Convenience Store News.