Walgreens to Revise Agreement in Order to Gain U.S Approval

It’s been around two years that Walgreens Boots Alliance Inc. has been trying to buy Rite Aid. In the latest form, the company is trying to buy over 2,000 Rite Aid stores.

U.S. approval and resolving outstanding antitrust concerns have been in the way but according to people familiar with the situation, Walgreens may be ready to revise its agreement on buying individual Rite Aid Corp. stores in order to gain approval.

According to three people, Walgreens is set to modify the deal. The company is in the final stage of negotiations with the Federal Trade Commission to buy the over 2,000 Rite Aid stores.

The people, who asked to remain anonymous, said that the companies and the Federal Trade Commission are near an agreement that would allow the deal to proceed.

One person said that the number of stores will not change dramatically.

It was in 2015 that Walgreens initially announced it wanted to buy Rite Aid for $9.4 billion.

Disclaimer: We have no position in Walgreens Boots Alliance Inc. (NASDAQ: WBA) nor Rite Aid Corporation (NYSE: RAD) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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