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Walgreens Said to Tweak Rite Aid Deal to Clinch US Approval

Walgreens Boots Alliance Inc. is poised to revise its agreement to buy individual Rite Aid Corp. stores, a move that may be enough to resolve outstanding antitrust concerns and clinch U.S. approval for a deal the companies have been pursuing in different forms for two years, said people familiar with the matter.

Walgreens is in the final stage of negotiations with the Federal Trade Commission about its plan to buy more than 2,000 Rite Aid stores and is set to propose a modified deal that could be announced as soon as Monday, according to three people, who declined to be identified because the talks are confidential.

The FTC is nearing the end of its review of Walgreens’ plan to buy the Rite Aid locations and must approve the deal or issue a so-called second request seeking more information.

A revised filing by Walgreens would head off an in-depth investigation and give the agency an additional 30 days to reach a final decision, though the FTC could act sooner if it’s satisfied the tweaked transaction resolves its concerns.

A modified deal would mark the fourth attempt by Walgreens to win approval for its plan to dramatically expand its footprint through a transaction with Rite Aid.

READ MORE (Bloomberg)

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Walgreens Said to Tweak Rite Aid Deal to Clinch US Approval


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