Deals
Walgreens Wins U.S. Approval for Rite Aid Deal on Fourth Try
- Rite Aid shares plunge after new agreement cuts total price
- Deal now includes 1,932 stores, for $4.38 billion total
Walgreens CEO on U.S. Regulatory Environment
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Walgreens Boots Alliance Inc. clinched regulatory approval for a deal to buy Rite Aid Corp. stores after a last-minute reduction of the number of stores and price, a hard-fought victory following two years of failed attempts.
The drugstore chain gained clearance from the U.S. Federal Trade Commission on its fourth try, but still drew criticism from one of the two commissioners currently on the short-staffed agency, who raised concerns that the deal will reduce competition and lead to rising prices for generic drugs.