Shares Of Rite Aid (RAD) Just Sank After This FTC Move

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Rite Aid shares declined even farther this week after the FTC Commissioner Terrell McSweeny commented on “troubling decrease in competition” which ignited concerns about Ride Aid’s proposed $17 billion merger with Walgreens Boots Alliance (WBA).

McSweeny said in a keynote address at the Washington Center for Equitable Growth, “…the role antitrust plays in maintaining competitive markets has become, quite appropriately, an important topic of public debate.”

Shares of Rite Aid have dropped roughly 10% since September 8th. The planned acquisition of the drug store chain still requires approval by the FTC.

Disclaimer: We have no position in Rite Aid Corporation (NYSE: RAD) and have not been compensated for this article.