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BRIEF-Fred's Pharmacy to acquire 865 Rite Aid stores in $950 mln deal
December 20, 2016 / 1:49 PM / a year ago

BRIEF-Fred's Pharmacy to acquire 865 Rite Aid stores in $950 mln deal

Dec 20 (Reuters) - Fred’s Inc

* Fred’s Pharmacy agrees to acquire 865 Rite Aid stores

* Deal for $950 million in cash

* Fred’s Inc - upon completion of acquisition, company will operate acquired stores and will retain Rite Aid banner through a 24-month transition

* Closing of transaction is expected to take several months after walgreens boots alliance’s proposed acquisition of Rite Aid is completed

* Fred’s Inc says has received financing commitments to fund purchase price

* Expects that acquired stores would be accretive to earnings and generate substantial cash flow Source text for Eikon: Further company coverage:

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