Skip to main content

Walgreens Boots Alliance, Inc. and Rite Aid Corporation announced that they have entered into a definitive agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid, a U.S. retail pharmacy chain, for $9.00 per share in cash, for a total enterprise value of approximately $17.2 billion, including acquired net debt. Upon completion of the merger, Rite Aid will be a wholly owned subsidiary of Walgreens Boots Alliance, and is expected to initially operate under its existing brand name. Working together, decisions will be made over time regarding the integration of the two companies, ultimately creating a fully harmonized portfolio of stores and infrastructure. Walgreens Boots Alliance expects to finance the transaction through a combination of existing cash, assumption of existing Rite Aid debt and issuance of new debt. The transaction is expected to close in the second half of 2016.

This was reported by Business Wire on October 27, 2015.

Contact Information: Michael Polzin, Director Corporate Communications, Walgreens, 121 Pine Avenue West, Menomonie, WI 54751; 847-315-2935; E-mail: michael.polzin@walgreens.com; Website: www.walgreens.com

Login to access The OPEN MINDS Circle Library. Not a member? Create your free account now!

Close

Support Request

Need help now?

Call our toll-free phone number 877-350-6463