Walgreens wants half rite aid stores

Authorities have announced its $4.4 billion agreement to buy 1,932 riteaid stores. This may definitely leave Rite Assist with approximately 2,600 stores once the price is completed. The merger arrangement confronted extreme scrutiny from the Start, as it'd have abandoned the usa with two big drugstore chains: Walgreens and CVS. The arrangement had been Re Worked Several times within the last couple of years since Wal-Greens climbed back the amount of stores it planned to buy. Back in June, the corporation strove for a 5.2 billion deal which will have passed it 2,186 riteaid stores. Polzin reported that the waiting time period for inspection by the Federal Trade Commission died yesterday evening , effortlessly giving wal greens the regulatory clearance it must proceed forward.

Even the Rite Aid pharmacies which Walgreens intends to buy will probably be re branded as Walgreens stores. However, it wont happen all at one time. Polzin said the firm will start buying Rite helps with October, adding it hopes to complete doing this from the spring of 2018. Rite Assist inventory was down almost 7 percent in premarket trading Tuesday morning — an alteration from Monday, as it climbed as investors expected for a greater price. Walgreens stock, however, has been up 2% Tuesday earlier start.