Walgreens (WBA) - Get Report set a deadline of roughly three months for the Federal Trade Commission to rule on its proposed $9.7 billion merger with Rite Aid (RAD) - Get Report , sources told the New York Post.
The move would suggest that the company believes that it has provided all of the necessary information for the bid's review process.
"Our view on WBA remains the same in that, while we await a decision from the FTC, we would look to be buyers near or below the $80 level and would be incremental sellers should the stock creep into the higher $80s," TheStreet's Jim Cramer wrote in a note to Action Alerts PLUS member wrote.
Walgreens shares closed trading down 0.31% to $83.05 on Friday.
This story has been updated since its 11:02 am EST publication.