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walgreens / rite aid merger terminated!

Walgreens is scrapping its deal to buy all of Rite Aid Corp. and instead will buy a smaller piece of the drugstore chain, after the original takeover effort seemed doomed by antitrust regulators.

It was reported on 09/19/17 that Walgreens received the government's sign-off on the deal.

Walgreens will buy about half of the over 4,500 Rite Aid stores, making Walgreens the largest pharmacy chain in the country but leaving Rite Aid as a regional chain. The 1,932 stores Walgreens agreed to buy are mainly in the Northeast, Mid-Atlantic and Southeast.