Back in October of 2015, a $17 billion deal was announced concering the merger of Walgreens and Rite Aid. The same plan was reworked in December of 2016 and finally scaled back in January 2017. Now, according to a recent money.cnn.com article, Walgreens has agreed to buy 2,186 Rite Aid Stores for $5.2 billion.
The article, written by David Goldman, goes on to say that the deal will leave Rite Aid store numbers cut in half, with 2,350 locations remaining. Walgreens is expected to pay $325 million for canceling the merger.
According to the article, the Federal Trade Commission was expected to stop the merger, as it would have left the U.S. only two major pharmacy chains.
For more information please visit: www.money.cnn.com