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What went wrong with the Walgreens/Rite Aid merger?

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Walgreens and Rite Aid announced Thursday that they are no longer combining forces, opting instead for a $5 billion purchase of 2186 Rite Aid stores. read more

Instead, Walgreens agreed to buy 2,186 Rite Aid stores for $5.2 billion. That will essentially cut Rite Aid in half, leaving it with 2,350 stores after the deal is done. The merger agreement faced intense scrutiny from the start. read more

“The longer the (merger) process takes the more likely it is to close as it signals a delay in sorting out the divestiture package vs. a true blockage by FTC,” Evercore ISI analyst Ross Muken said.Walgreens Delays Rite-aid Acquisition. Walgreens reported a profit of $1.07 per share in the fourth quarter ended Aug. 31, excluding items, beating the average analyst estimate of 99 cents. read more

On Dec. 20, 2016, Walgreens and Rite Aid announced plans to sell 865 Rite Aid stores to Fred's to help convince the FTC to give a green light for the deal. Reading the fine print of the initial agreement with Fred's explains why the company's stock rose after the announcement by Walgreens and Rite Aid. read more

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