Walgreens Slashes $2B From Value From Rite Aid Merger; Up To 1,200 Stores To Be Sold Off

Last Friday, Jan. 27, was the deadline for the deal to close in the proposed acquisition of drugstore chain Rite Aid by competitor Walgreens. Today, the companies announced a revised deal with an eye to meeting Federal Trade Commission approval. This deal values Rite Aid at over $2 billion less, and proposes the sale of hundreds more stores to another drugstore chain.

The two chains first proposed this deal back in October 2015, putting the value of Rite Aid and its stores at $9.4 billion....

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