Actionable news
0
All posts from Actionable news
Actionable news in RAD: RITE AID CORPORATION,

Walgreens and Rite-Aid Just Laughed in the Face of Regulators, Strike One Clever New Deal

Take that, regulators.

With questions swirling whether its combination would get approved by regulators, Walgreens Boots Alliance (WBA) and Rite-Aid (RAD) struck a clever deal on Thursday. Walgreens will pay $5.175 billion to Rite-Aid in cash and receive 2,186 stores in return. Walgreens will also pay Rite-Aid a $325 million termination fee for its planned buyout of the company.

Walgreens will be an even bigger drug-selling beast, with more than 15,000 stores spanning 11 countries. As for Rite-Aid, it will be left with about 2,300 stores once the deal closes in six months.

"I view this deal as being more attractive...the deal is expected to give us significant benefits,"...


More