February 20, 2018 / 12:26 PM / in 10 months

BRIEF-Albertsons Companies And Rite Aid To Merge

Feb 20 (Reuters) - Albertsons Companies Inc:

* ALBERTSONS COMPANIES AND RITE AID MERGE TO CREATE FOOD, HEALTH, AND WELLNESS LEADER

* RITE AID - IN EXCHANGE FOR EVERY 10 SHARES OF CO'S STOCK, CO'S SHAREHOLDERS MAY ELECT TO GET ONE SHARE OF ALBERTSONS STOCK PLUS ABOUT $1.83 IN CASH

* RITE AID CORP - COMBINED COMPANY EXPECTS TO DELIVER ANNUAL RUN-RATE COST SYNERGIES OF $375 MILLION IN APPROXIMATELY THREE YEARS

* RITE AID - IN EXCHANGE FOR EVERY 10 SHARES OF CO'S STOCK, CO'S SHAREHOLDERS MAY ALSO ELECT TO GET 1.079 SHARES OF ALBERTSONS STOCK

* RITE AID CORP - ‍CURRENT RITE AID CHAIRMAN AND CHIEF EXECUTIVE OFFICER JOHN STANDLEY WILL BECOME CHIEF EXECUTIVE OFFICER OF COMBINED COMPANY​

* RITE AID CORP - SHAREHOLDERS OF RITE AID WILL OWN A 28.0 PERCENT TO 29.6 PERCENT STAKE IN COMBINED COMPANY

* RITE AID CORP - CURRENT ALBERTSONS COMPANIES SHAREHOLDERS WILL OWN A 70.4 PERCENT TO 72.0 PERCENT STAKE IN COMBINED COMPANY ON A FULLY DILUTED BASIS

* RITE AID CORP - ‍CURRENT ALBERTSONS COMPANIES CHAIRMAN AND CHIEF EXECUTIVE OFFICER BOB MILLER SERVING AS CHAIRMAN FOR COMBINED CO ​

* RITE AID - FOLLOWING DEAL CLOSE AND SHARE EXCHANGE, ALBERTSONS SHARES EXPECTED TO TRADE ON NYSE

* RITE AID -‍ COMBINED CO SEES TO DELIVER ANNUAL RUN-RATE COST SYNERGIES OF $375 MILLION IN ABOUT 3 YEARS

* RITE AID CORP - ON A PRO FORMA BASIS, COMBINED CO EXPECTED TO GENERATE YEAR ONE REVENUES OF ABOUT $83 BILLION (EXCLUDING POTENTIAL REVENUE OPPORTUNITIES)

* RITE AID - ‍COMBINED CO IS EXPECTED TO BE COMPRISED OF LEADERSHIP FROM BOTH COS,WILL BE DUAL HEADQUARTERED IN BOISE, IDAHO, AND CAMP HILL, PENNSYLVANIA​

* RITE AID CORP - TRANSACTION HAS BEEN APPROVED UNANIMOUSLY BY BOARDS OF DIRECTORS OF BOTH COMPANIES

* RITE AID - BOARD OF NEW CO TO HAVE NINE DIRECTORS, OF WHICH FOUR WILL BE NAMED BY ALBERTSONS, FOUR BY RITE AID

* RITE AID CORP - ‍OVER 60 PERCENT OF COST SYNERGIES FROM DEAL ARE EXPECTED TO BE REALIZED WITHIN FIRST TWO YEARS POST-CLOSE​ Source text for Eikon: Further company coverage:

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