Walgreens Boots Alliance to Buy Rite Aid for $17.2 Billion
October 27, 2015
Bloomberg (Harrison, 10/27) reported that Walgreens Boots Alliance Inc. has agreed to acquire Rite Aid Corp. for about $9.4 billion, which will expand its role in drug distribution in the United States. The deal between the large retail pharmaceutical chains would make Walgreens the market leader, with 12,800 locations.
The Wall Street Journal (Ziobro, 10/29) reported that “in 14 states, including Pennsylvania, New York and Michigan, the proposed combination would more than double Walgreens’s existing store count. … The Federal Trade Commission will likely look at not only store overlap, but also whether the larger size will give the combined company too much clout when negotiating with pharmacy-benefits managers.”