» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 41 | NO. 37 | Friday, September 15, 2017

Walgreens, Rite Aid revise store purchase deal to $4.38B

The Associated Press

Print | Front Page | Email this story

Walgreens and Rite Aid have finally devised a combination of the nation's largest and third-largest drugstore chains that will get past antitrust regulators.

The companies said Tuesday that they have Federal Trade Commission clearance for a slimmer version of a store-purchase agreement announced in June. Walgreens will now spend $4.38 billion on 1,932 stores, three distribution centers and inventory.

The drugstore chains had said earlier this summer that Walgreens planned to spend about $5.18 billion on 2,186 stores.

That deal marked a step down from Walgreens' initial plan to take over Camp Hill, Pennsylvania-based Rite Aid Corp. for $9.4 billion. That deal spent a couple of years in regulatory review before the companies abandoned it.

Deerfield, Illinois-based Walgreens Boots Alliance Inc. says the latest deal should be completed by spring.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0