News

Walgreens-Rite Aid deal gets regulatory green light

September 22, 2017

While Walgreens isn't getting the opportunity to acquire all the Rite-Aid stores initially hoped for, it is getting the regulatory green light to acquire about 42 percent of the stores at a cost of $4.38 billion.

The approved deal between Walgreens Boot Alliance Inc. and Rite Aid Corp. involves 1,932 stores, about 254 less than the original acquisition strategy, according to a Reuters report.

U.S. regulators did not support Walgreens' initial $9.4 billion move in 2015 to buy all 4,600 Rite Aid locations.