September 18, 2017 / 10:48 AM / 5 months ago

Walgreens to revise Rite Aid stores deal for antitrust approval: Bloomberg

(Reuters) - Walgreens Boots Alliance Inc (WBA.O) is set to revise its agreement to buy some Rite Aid Corp (RAD.N) stores, a move that may be enough for the drugstore chain operator to resolve outstanding antitrust concerns, Bloomberg reported.

Rite Aid’s shares were up 8.4 percent at $2.85 before the bell on Monday.

A pedestrian passes a sign for a Walgreens pharmacy in Somerville, Massachusetts, U.S., June 29, 2017. REUTERS/Brian Snyder

Walgreens is in final stage of negotiations with the Federal Trade Commission for its plan to buy more than 2,000 Rite Aid stores and is set to propose a modified deal, Bloomberg reported, citing people familiar with the matter. (bloom.bg/2jD1QtQ)

In June, Walgreens, the No.1 U.S. drugstore chain operator, said it would buy nearly half of the smaller rival’s stores for $5.18 billion, after it failed to win approval to take over the company.

Both Walgreens and Rite Aid declined to comment.

Reporting by Ahmed Farhatha; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below