In a note published on Friday, June 30, Barclays estimated that Walgreens' new deal to purchase 2,186 Rite Aid stores for $5.175 billion, instead of acquiring its entire business, will cost the pharmacy company $2.5 million per store, which is essentially equivalent to the average price of 31 Tesla Inc. (TSLA) - Get Report cars, priced at about $80,000 each.
Walgreens' and Rite Aid's original $17.2 billion merger, announced on Oct. 27, 2015, would have valued each Rite Aid store at $4.1 million, according to Barclays.
Barclays said Walgreens came out with the "better deal," but it still needs clearance from the U.S. Department of Justice, which, "should be significantly easier" to gain than its previous proposal.
Rite Aid and Walgreens, doubtful it would pass, broke off their proposed merger on Thursday. Walgreens agreed to pay Rite Aid a $325 million cancellation fee.
Meanwhile, Tesla CEO Elon Musk cryptically tweeted on Friday, June 30, that news is going drop on its upcoming, and most affordable, Tesla car, the Model 3, on Sunday. The tweet was in response to business intelligence analyst Douglas Bailey, who begged Musk on Twitter (TWTR) - Get Report to shed some insight on when the Model 3, which will cost around $35,000, will be released.
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