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Walgreens planned to keep the Rite Aid name on existing stores if the deal went through, though the company's long-term plans for the Rite Aid name were unknown. [41] Most analysts expected that the merger would close by the end of 2016; it was initially delayed by regulatory review. [42]
On October 27, 2015, Walgreens announced the purchase of competitor Rite Aid for $17.2 billion (equivalent to $21.6 billion in 2023). [12] [13] However, that deal was later scrapped due to antitrust concerns in favor of a $5.18 billion deal (equivalent to $6.33 billion in 2023), [12] in which Walgreens only acquired half of Rite Aid locations. [14]
On July 28, 2016, Walgreens announced it would shut down Drugstore.com, as well as Beauty.com, to focus on its own Walgreens.com website. [36] On September 19, 2017, the Federal Trade Commission (FTC) approved Walgreens' fourth attempt to purchase Rite Aid, with 1,932 stores, for $4.38 billion. [37]
And Rite Aid filed for bankruptcy last year and will close up to 500 stores. Shifting trends Drug store chains are struggling because of falling reimbursement rates for prescription drugs ...
After butting heads with antitrust regulators over a full buyout, Walgreens agreed to a new deal to acquire 2,186 stores for $5.175 billion. Walgreens the clear winner of terminated Rite Aid deal ...
Alamy By Greg Roumeliotis and Lauren Hirsch NEW YORK -- Drugstore chain Walgreens Boots Alliance said Tuesday it would acquire smaller peer Rite Aid for $17.2 billion including acquired debt.
A spokesperson for Walgreens declined to comment. David Knotts, an attorney for the shareholders, said the case was "intensely fought." Walgreens to settle Rite Aid investors' merger claims for ...
Walgreens attempted to buy Rite Aid for about $9.4 billion in a deal announced in 2015. But the larger drugstore chain scaled back its ambition a couple years later and bought only a chunk of Rite ...