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Walgreens is buying Rite Aid's assets for $5.18 billion after the 2 sides terminate their merger

Joe CiolliAug 26, 2024, 14:23 IST

Reuters/Noah BergerWilly Churchill leaves a Rite Aid store in Oakland, California.Walgreens Boots Alliance announced on Thursday that it entered into an agreement to acquire 2,186 Rite Aid stores and related assets for $5.18 billion.

It's the latest twist in the ongoing saga between the two companies, which drew scrutiny from US antitrust regulators earlier this year after announcing a merger valued at $17.2 billion back in October 2015. The deal would've seen Walgreens acquire all outstanding shares of Rite Aid.

The new deal will replace the original merger agreement.

Rite Aid's stock plunged 18% in pre-market trading following the announcement, while Walgreens

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