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2 months ago
Walgreens scraps Rite Aid deal, to buy some stores instead
June 29, 2017 / 11:10 AM / 2 months ago

Walgreens scraps Rite Aid deal, to buy some stores instead

June 29 (Reuters) - Drugstore chain Walgreens Boots Alliance Inc said on Thursday it terminated its agreement to buy Rite Aid Corp, and would instead buy 2,186 Rite Aid stores and some distribution centers for $5.18 billion in cash.

Walgreens said it would pay Rite Aid a $325 million fee related to the termination and also ended an agreement to sell certain Rite Aid stores to Fred's Inc.

Reporting by Siddharth Cavale in Bengaluru; Editing by Sriraj Kalluvila

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