Deals
Rite Aid Falls on Report FTC May Sue to Block Walgreens Deal
- Fred’s shares fall as well; company would buy divested stores
- Antitrust regulator could move to block drugstore takeover
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Rite Aid Corp. shares fell Wednesday after a report that the U.S. Federal Trade Commission was considering a lawsuit to block the company’s about $7 billion takeover by Walgreens Boots Alliance Inc.
Capitol Forum, a trade publication, reported that the FTC was considering a lawsuit. Rite Aid shares were down 8.5 percent to $4.09 at 3:17 p.m. in New York. Shares of Fred’s Inc., which would acquire as many as 1,200 stores and other assets as part of a divestiture plan, fell as well, losing 8.6 percent to $13.75.