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

SHARE Walgreens, Rite Aid revise store purchase deal to $4.38 billion
walgreenstore.jpg

Walgreens has cobbled together a deal with Rite Aid that has passed muster with federal regulators. | Sun-Times file photo

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

The Latest
“Because of the marketing and advertising of these kinds weapons, our lives will not be the same,” said Lorena Rebollar Sedano, who was shot in the foot and is one of those who filed suit Wednesday.
Twins move into second-place tie with Sox in AL Central
Wesneski held the Phillies to one run in five-plus innings.
Soderblom, the Hawks’ top prospect goalie, worked on his lateral quickness over the summer and showed it off while saving 31 of 33 shots Wednesday.
The rapper was in Chicago last month for a set at Riot Fest.