US pharmacy chain Walgreens announced a new deal yesterday to buy half of competitor Rite Aid’s stores for nearly $5.2bn after canceling a two previous merger attempts.
The Walgreens Boots Alliance announced merger plans with Rite Aid Corporation in October 2015 and revised the deal in January with a plan for Rite Aid to sell some of its stores to Fred’s, Inc but the plans continued to face opposition from antitrust regulators.
Under the new deal, Walgreens will purchase 2,186 stores and three distribution centers from Rite Aid.
