Walgreens, Rite Aid End $9.4 Billion Merger; Walgreens to Buy Half of Rite Aid Stores
June 29 2017 - 07:52AM
Dow Jones News
By Anne Steele
Walgreens Boots Alliance Inc. and Rite Aid Corp. nixed their
$9.4 billion merger agreement, which had been heavily scrutinized
by antitrust regulators, and reached a new deal in which Walgreens
instead will buy half of Rite Aid's stores for $5.1 billion in
cash.
Investors had been awaiting a government decision on whether the
delayed tie-up between the drugstore chains would go through and
had grown increasingly uneasy that the deal could fall apart.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
June 29, 2017 07:37 ET (11:37 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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