Walgreens wants decision

Walgreens Boots Alliance took steps to force U.S. antitrust officials to decide within two months whether to approve its proposed takeover of rival pharmacy chain Rite Aid Corp.

The companies have notified the Federal Trade Commission that they have complied with the agency’s request for information related to the deal, a move that triggers a 60-day deadline for the commission to clear the merger or sue to block it.

The decision will come down to a proposal by Walgreens and Rite Aid to sell assets to Fred’s, a smaller regional pharmacy that isn’t profitable. FTC officials have been concerned about the plan and Fred’s ability to compete effectively if the merger is approved, according to people familiar with the matter.

Walgreens and Rite Aid have been grappling with the FTC for months in an attempt to resolve the agency’s concerns that the merger of the No. 2 and No. 3 pharmacy chains could undermine competition. In January, they extended the timeline to complete their deal to July 31 and cut the value of the transaction by at least $2 billion from the original $9.4 billion agreement. Rite Aid said last week that winning approval will probably require selling 1,200 locations.