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Rite Aid (RAD) Stock Pops, Divesting Stores to Quell Antitrust Concerns

NEW YORK (TheStreet) -- Shares of Rite Aid (RAD) were jumping 6.58% to $8.26 on heavy trading volume mid-Thursday morning after Walgreens Boot Alliance (WBA) said the companies would sell more than 500 stores to speed up their pending deal.

The companies said in a statement that they are "actively engaged" with the Federal Trade Commission in order to address potential issues with Walgreen's acquisition of the Camp Hill, PA-based retail drugstore chain.

The companies will be...