Investors are wondering if it’s ever going to happen and rightfully so. The $9.7 billion proposed merger between Walgreens Boot Alliance and Rite-Aid is facing even more hurdles now.
The proposed acquisition is in its 19th month now and according to the Post, now regulators are sending out mandatory requests for additional information to Walgreen WBA, vendors and rivals. It was back in October of 2015 that Walgreen agreed to buy Rite Aid in an effort to make America’s biggest drug store chain.
A source familiar with the situation has said, “They are working hard to get more information.” The request is known as Civil Information Demands, and the source says it hows that the Federal Trade Commission is not ready to approve the acquisition.
According to sources, this could be the FTC’s way of collecting data for a possible lawsuit that could block the deal.
Another source close to the situation said that CIDs is “all consistent with bringing a case.” and that “it tells you the FTC is still very concerned about this deal.”
Disclaimer: We have no position in Walgreens Boots Rg (NASDAQ: WBA) nor Rite Aid Corporation (NYSE: RAD) and have not been compensated for this article.