Walgreens scraps Rite Aid takeover, will buy stores instead

Walgreens Boots Alliance is scrapping its deal to buy all of rival Rite Aid and instead will buy a smaller piece of the drugstore chain, after the original takeover effort seemed doomed by antitrust regulators. The companies announced Thursday that they would end their original deal in which Walgreens would have bought Rite Aid for as much as $7.37 billion. Instead, Walgreens will pay $5.18 billion to buy 2,186 stores, leaving Rite Aid as a regional chain. Although the combination of the two gia...

Share this post