July 8, 2016
By: Daniella Soloway
Although the government has thwarted several mergers this year (Office Depot/Staples, Allergan/Pfizer, etc.), Deerfield, IL-based Walgreens Boots Alliance still expects its acquisition of Rite Aid to proceed without issues, and be completed by the end of the year.
With even more good news for the company, Walgreens’ CEO Stefano Pessina says that only 500 stores would have to be closed to address antitrust concerns. Initially, when the $9.4 billion deal was announced last year, it was expected that nearly 1,000 stores would be shuttered to appease the Federal Trade Commission.
If all goes well, Walgreens and Rite Aid would total 12,800 combined retail locations.