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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 said Thursday that it plans to close a “significant” number ... And Rite Aid filed for bankruptcy last year and will close up to 500 stores. ... as shoppers buy more of these items ...
Walgreens planned to keep the Rite Aid name on existing stores if the deal went through, though the company's long-term plans for the Rite Aid name were unknown. [41] Most analysts expected that the merger would close by the end of 2016; it was initially delayed by regulatory review. [42]
Ultimately, in 2017, the companies agreed to a smaller, $4.4 billion deal, in which Walgreens bought just under 2,000 Rite Aid locations, leaving Rite Aid diminished in stature and unable to ...
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]
CVS and Walgreens have paid similar settlements, but it was much harder for Rite Aid to do so. In recent years, the stock market has valued Rite Aid in the tens of millions of dollars even though ...
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 ...
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 ...