Walgreens Just Slashed Its Rite Aid Offer by $2 Billion

Walgreens Boots Alliance wba has lowered its offer for smaller rival Rite Aid rad by $2 billion and extended the deadline to seal the troubled deal by six months amid concerns about their ability to win government approval for their tie-up.

The deal, worth about $9.4 billion when it was announced in October 2015, is now worth between $6.8 billion to $7.4 billion after WBA lowered its offer to between $7 and $6.50...

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