Wal­greens pro­fit jumps, Ri­te Aid deal seen clo­sing in 2017

Times of Suriname - - ENGELS -

USA - Wal­greens Boots Al­li­an­ce Inc (WBA.O), the lar­gest US drug­sto­re ope­ra­tor by sto­re count, re­por­ted a jump in quar­ter­ly pro­fit, hel­ped by cost-cut­ting and said it now ex­pec­ted its ac­qui­si­ti­on of Ri­te Aid Corp (RAD.N) to clo­se in ear­ly 2017.

The com­pa­nies said they had ex­ten­ded the end da­te of their mer­ger agree­ment to Jan. 27 from Oct. 27. Wal­greens al­so said it ex­pec­ted to di­vest sto­res to gain re­gu­la­to­ry ap­pro­val for the deal by the end of 2016. Net in­co­me at­tri­bu­ta­ble to Wal­greens ro­se to USD 1.03 bil­li­on, or 95 cents per sha­re, in the fourth quar­ter en­ded Aug. 31 from USD 26 mil­li­on, or 2 cents per sha­re, a year ear­lier.

The com­pa­ny had re­cor­ded a loss of USD 143 mil­li­on on pre­vious­ly held equi­ty in­te­rest and USD 479 mil­li­on in other ex­pen­ses in the year-ago quar­ter. (Reu­ters.com)

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