Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and Rite Aid
Corporation (NYSE: RAD) today announced that, in accordance with
the terms of their merger agreement dated 27 October 2015, they
have mutually agreed to extend the end date of their merger
agreement from 27 October 2016 to 27 January 2017. The companies
now expect the transaction will close in early calendar 2017.
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On 27 October 2015, the companies entered into a definitive
agreement under which Walgreens Boots Alliance agreed to acquire
all outstanding shares of Rite Aid for $9.00 per share in cash.
Under the terms of the merger agreement, either party has the right
to extend the end date from 27 October 2016 to 27 January 2017 by
delivery of notice to the other.
Notes to Editors:
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is the first global
pharmacy-led, health and wellbeing enterprise.
The company was created through the combination of Walgreens and
Alliance Boots in December 2014, bringing together two leading
companies with iconic brands, complementary geographic footprints,
shared values and a heritage of trusted health care services
through pharmaceutical wholesaling and community pharmacy care,
dating back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health
and daily living destination across the USA and Europe. Walgreens
Boots Alliance and the companies in which it has equity method
investments together have a presence in more than 25* countries and
employ more than 400,000* people. The company is a global leader in
pharmacy-led, health and wellbeing retail and, together with the
companies in which it has equity method investments, has over
13,200* stores in 11* countries as well as one of the largest
global pharmaceutical wholesale and distribution networks, with
over 390* distribution centers delivering to more than 230,000**
pharmacies, doctors, health centers and hospitals each year in more
than 20* countries. In addition, Walgreens Boots Alliance is one of
the world’s largest purchasers of prescription drugs and many other
health and wellbeing products.
The company’s portfolio of retail and business brands includes
Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as
increasingly global health and beauty product brands, such as No7,
Botanics, Liz Earle and Soap & Glory. More company information
is available at www.walgreensbootsalliance.com.
* As of 31 August 2016, using publicly available information for
AmerisourceBergen.
** For 12 months ending 31 August 2016, using publicly available
information for AmerisourceBergen.
(WBA-GEN)
About Rite Aid
Rite Aid Corporation (NYSE: RAD) is one of the nation's leading
drugstore chains with nearly 4,600 stores in 31 states and the
District of Columbia and fiscal 2016 annual revenues of $30.7
billion. Information about Rite Aid, including corporate background
and press releases, is available through the company's website at
www.riteaid.com.
Cautionary Note Regarding Forward-Looking Statements: All
statements in this release that are not historical statements,
which include, without limitation, those regarding the pending
merger agreement between Walgreens Boots Alliance, Inc. and Rite
Aid Corporation and the transactions contemplated thereby and their
possible timing and effects, are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Words such as “expect,” “pending,”
“potential”, “likely,” “preliminary,” “would,” “could,” “should,”
“can,” “will,” “project,” “intend,” “plan,” “goal,” “continue,”
“synergy,” “on track,” “believe,” “seek,” “estimate,” “anticipate,”
“may,” “possible,” “assume,” and variations of such words and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties and
assumptions, known or unknown, which could cause actual results to
vary materially from those indicated or anticipated. These include,
but are not limited to, the outcome of legal and regulatory
matters, including with respect to the outcome of discussions with
the Federal Trade Commission and otherwise in connection with the
pending acquisition of Rite Aid by Walgreens Boots Alliance; the
number of stores divested in connection with such pending
acquisition and the terms, timing and consummation of such
transactions; the risk of unexpected costs, liabilities or delays,
changes in management’s assumptions, risks associated with
acquisitions, including those relating to the ability to satisfy
the closing conditions and consummate the pending acquisition of
Rite Aid by Walgreens Boots Alliance and related matters on a
timely basis or at all; the risks associated with the integration
of complex businesses; and the other risks and uncertainties
described in the reports that Walgreens Boots Alliance and Rite Aid
have filed with the Securities and Exchange Commission (“SEC”). A
further list and description of risks and uncertainties can be
found in Item 1A (Risk Factors) in Walgreens Boots Alliance’s
Annual Report on Form 10-K for the fiscal year ending 31 August
2015 and its subsequent reports on Form 10-Q as well as Rite Aid’s
Annual Report on Form 10-K for the fiscal year ending 27 February
2016 and its subsequent reports on Form 10-Q. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Accordingly, you are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date they are made. Walgreens Boots Alliance and Rite Aid
expressly disclaim any current intention to update publicly any
forward-looking statement after the distribution of this release,
whether as a result of new information, future events, changes in
assumptions or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20161020005433/en/
Walgreens Boots Alliance, Inc.Media RelationsUSA /
Michael Polzin, +1 847 315 2935International / Laura Vergani, +44
(0)207 980 8585orInvestor RelationsGerald Gradwell and
Ashish Kohli, +1 847 315 2922orRite Aid CorporationMedia
RelationsAshley Flower, +1 717 975 5718orInvestor
RelationsMatt Schroeder, +1 717 214 8867
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