Nearly 900 Rite Aid stores are being unloaded in a sale meant to allow the Illinois-based Walgreens to inch closer to acquiring the Camp Hill, Pennsylvania-based pharmacy chain.
The two companies announced on Tuesday morning 865 Rite Aid stores will be sold to Tennessee-based Fred's Pharmacy for $950 million.
The sale is in response to concerns expressed by the Federal Trade Commission in its review of Walgreens Boots Alliance's (NASDAQ: WBA) acquisition of Rite Aid a buy first announced in…
Source: bizjournals.com