October 27, 2015 Comments Off on Walgreens Buying Rite Aid? Views: 834 California News, National News

Walgreens Buying Rite Aid?

There could be a major drugstore merger in our midst.

Walgreens Boots Alliance, the parent company of the Walgreens drugstore chain, is said to be purchasing competitor Rite Aid for about $10 billion. If the acquisition is approved, it would combine the number two and three largest chains in the sector in the United States.

Walgreens’ management will have its fiscal fourth-quarter conference call tomorrow, and a deal could be announced during that presentation.

The news has spiked up Rite Aid’s stock nearly 40 percent, to close to $8.50 per share. Walgreens has about 13,200 stores, while Rite Aid operates just under 4,600.

Read More at TheStreet

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