Did Kroger Just Doom The Rite Aid And Walgreens Merger?

Shares of Rite Aid took a dive on Wednesday when it was revealed that Kroger may not be buying some of the 650 Rite Aid locations that Rite Aid and Walgreens Boot Alliance need in order to gain approval for their proposed merger.

According to sources who spoke to the New York Posk, the Federal Trade Commission has told Kroger that the company will not be able to close the stores and move the operations into its grocery locations.

According to the Post, the FTC could sue to block the Rite Aid, Walgreens merger, if they don’t come up with a solution.

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