Walgreens (WBA) Is Looking For A Buyer For 650 Stores

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It looks like Walgreens may be having a difficult time trying to sell 650 stores. In order for the company to complete its $17 billion deal with Rite Aid Corporation (RAD), Walgreens Boots Alliance, Inc. must meet regulatory requirements, which calls for either selling or closing up to 1,000 stores.

The New York Post has revealed that private equity firms are not interested in the Walgreens stores for sale, because they don’t see those them as high quality prospects.

Walgreens still expects its Rite-Aid deal to close in the second half of this year.

The Walgreens/Rite-Aid deal would be the largest drugstore operation in the country if approved. The new company would dominate 46% of the market.

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