Deals
Rite Aid’s Odds of Finding Suitor May Improve With Sprint Ruling
Pedestrians cross a street in front of a Rite Aid Corp. store in Oakland, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Potential buyers of Rite Aid Corp. may decide to revisit bidding for the company after a judge opened the door by allowing T-Mobile US Inc. to purchase Sprint Corp., partly on a theory of a “weakened competitor.”
Judge Victor Marrero ruled Tuesday that T-Mobile can buy Sprint, partly after writing that Sprint’s financial situation remains “poor” and that at best the company is “struggling to even tread water.” Marrero writes that Sprint falls within the framework for a “weakened competitor” as established by an earlier case.