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Many of those soon-to-be-closed locations are presumably part of the 1,932 Rite Aid stores Walgreens bought in 2018 in a $5.2 billion consolation prize deal after failing to buy its smaller rival ...
Walgreens and other retailers have been hit by shoplifting and resorted to locking up items or closing high-theft stores since the pandemic, but Walgreens’ problems are much deeper, including ...
CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close 900 stores by 2024. Walgreens said in 2019 it would close 200 stores and in June announced ...
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Experts are concerned about pharmacy closures across the U.S. making it harder for people to access important medications.
On October 27, 2015, Walgreens announced the purchase of competitor Rite Aid for $17.2 billion (equivalent to $21.6 billion in 2023). [12] [13] However, that deal was later scrapped due to antitrust concerns in favor of a $5.18 billion deal (equivalent to $6.33 billion in 2023), [12] in which Walgreens only acquired half of Rite Aid locations. [14]
In January 2017, Rite Aid and Walgreens further delayed the merger's closing to July, and reduced the sale price to approximately $6.8 billion. [44] 1199SEIU United Healthcare Workers East, a labor union representing 6,000 Rite Aid employees, announced its opposition to the merger on January 31. [45]
Walgreens attempted to buy Rite Aid for about $9.4 billion in a deal announced in 2015. But the larger drugstore chain scaled back its ambition a couple years later and bought only a chunk of Rite ...
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