Walgreens Buys Rite Aid Stores, Pays $17.2 Billion
Merger has some calling for an anti-trust investigation as it leaves only one main pharmacy competitor.
By the second half of 2016, there will be one less pharmacy for shoppers to choose from, as it was announced Tuesday that Walgreens Boots Alliance, which is Walgreen’s and Duane Reader’s parent company, announced that Walgreens buys Rite Aid in a deal for $17.2 billion.
The company says that both corporation’s board of directors have already approved the deal, which now must be approved by Rite Aid common stock holders, as well as face the expiration or finish of appropriate waiting periods as listed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as well as additional traditional …show more content…
Walgreens Boots Alliance officials say additional decisions will be made later to decide on how the companies will be joined. The deal is expected to be paid for via 9.41 billion in cash, along with assuming Rite Aid’s existing debt (which is estimated at $7.4 billion) and taking on new loans.
Deal Makes Walgreens Largest Pharmacy Chain
This deal of Walgreens buys Rite Aid will make Walgreens a pharmacy giant owning about 18,000 stores globally. It combines Walgreens, which is currently already the number one pharmacy chain, with Rite Aid, which is number three. CVS pharmacy is currently the second largest pharmacy chain based on the number of stores.
Analysts say this deal turns Walgreens, already one of the world’s biggest pharmaceutical companies, into an even bigger one during a timeframe when additional main healthcare companies such as insurers and drug manufacturers are also getting bigger via their own multi-billion dollar agreements.
Rite Aid Stockholders to Get Higher Price for
Merger has some calling for an anti-trust investigation as it leaves only one main pharmacy competitor.
By the second half of 2016, there will be one less pharmacy for shoppers to choose from, as it was announced Tuesday that Walgreens Boots Alliance, which is Walgreen’s and Duane Reader’s parent company, announced that Walgreens buys Rite Aid in a deal for $17.2 billion.
The company says that both corporation’s board of directors have already approved the deal, which now must be approved by Rite Aid common stock holders, as well as face the expiration or finish of appropriate waiting periods as listed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as well as additional traditional …show more content…
Walgreens Boots Alliance officials say additional decisions will be made later to decide on how the companies will be joined. The deal is expected to be paid for via 9.41 billion in cash, along with assuming Rite Aid’s existing debt (which is estimated at $7.4 billion) and taking on new loans.
Deal Makes Walgreens Largest Pharmacy Chain
This deal of Walgreens buys Rite Aid will make Walgreens a pharmacy giant owning about 18,000 stores globally. It combines Walgreens, which is currently already the number one pharmacy chain, with Rite Aid, which is number three. CVS pharmacy is currently the second largest pharmacy chain based on the number of stores.
Analysts say this deal turns Walgreens, already one of the world’s biggest pharmaceutical companies, into an even bigger one during a timeframe when additional main healthcare companies such as insurers and drug manufacturers are also getting bigger via their own multi-billion dollar agreements.
Rite Aid Stockholders to Get Higher Price for