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Walgreens, Rite Aid End $9.4 Billion Merger

Posted by Yijy8kNUMO on July 5, 2017

Walgreens WBA +1.06% Boots Alliance Inc. and Rite RAD -5.58% Aid Corp. scrapped their $9.4 billion merger agreement, the latest in a series of high-profile deals to be derailed by antitrust enforcers.

Instead, Walgreens said it would seek to buy half of Rite RAD -5.58% Aid’s stores for $5.18 billion in cash. Executives said they had crafted the smaller deal to address regulatory issues, but antitrust experts said it doesn’t eliminate competition concerns.

The aborted deal was a reminder that mergers leading to high levels of industry concentration may face challenges even as more business-friendly Republicans take the reins from Democrats in antitrust enforcement.

Source: The Wall Street Journal, June 29, 2017  6:24pm

Authors: Sharon Terlep and Brent Kendall

Image Credit: (Left) CharlesS Krupa/Associated Press; (Right) Noah Berger/Reuters

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