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Walgreens to revise Rite Aid stores deal for antitrust approval - Bbg
September 18, 2017 / 10:35 AM / 3 months ago

Walgreens to revise Rite Aid stores deal for antitrust approval - Bbg

Sept 18 (Reuters) - Walgreens Boots Alliance Inc is set to revise its agreement to buy some Rite Aid Corp stores, a move enough for the drugstore chain operator to resolve outstanding antitrust concerns, Bloomberg reported.

Ride Aid’s shares were up 7.9 percent at $2.84 before the bell on Monday.

Walgreens is in final stage of negotiations with the Federal Trade Commission for its plan to buy more than 2,000 Rite Aid stores and is set to propose a modified deal, Bloomberg reported, citing people familiar with the matter. (bloom.bg/2jD1QtQ)

In June, Walgreens, the No.1 U.S. drugstore chain operator, said it would buy nearly half of the smaller rival’s stores for $5.18 billion, after it failed to win approval to take over the company.

Walgreens and Rite Aid were not immediately available for comment outside regular business hours. (Reporting by Ahmed Farhatha; Editing by Sriraj Kalluvila)

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