Walgreens (WBA) and Rite Aid (RAD) Make Huge Decision On Merging
Author By Sophia VidaPosted on After news this week revealed that the Federal Trade Commission wont allow Kroger to buy around 650 Rite Aid locations, it was easy to speculate that the merger between Walgreens Boot Alliance and Rite Aid could face trouble. Rite Aid needs to sell some 650 locations in order to gain approval for the proposed merger between it and Walgreens, where Walgreens would get all of Rite Aid’s outstanding shares for $9 a share.
The merger was scheduled to be completed on October 27th, but both companies have made a mutual decision to delay the merger agreement until January 27th.
Disclaimer: We have no position in Rite Aid Corporation (NYSE: RAD), nor Walgreens Boots (NASDAQ: WBA) and have not been compensated for this article.
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