Rite Aid sale to Wal­greens Boots scrapped

The National - News - Business - - Inside Track -

Wal­greens Boots Al­liance scrapped its deal to buy Rite Aid that had been un­der Fed­eral Trade Com­mis­sion scru­tiny and will in­stead buy 2,186 of the ri­val drug­store chain’s stores for US$5.18 bil­lion. Wal­greens will pay Rite Aid a $325 mil­lion ter­mi­na­tion fee for end­ing the old merger agree­ment, said Wal­greens, based in Deer­field, Illi­nois. Af­ter the trans­ac­tion closes, Wal­greens will be­gin ac­quir­ing the stores and re­lated as­sets over a pe­riod of about six months and in­tends to con­vert the stores to the Wal­greens brand over time.

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