Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report may be willing to renegotiate the number of Rite Aid stores it buys in order to win FTC approval, Bloomberg reports. The FTC is reportedly nearing a decision as September 18 marks the deadline on Walgreens' voluntary antitrust application.
If the deal is approved, Walgreens would become the largest drugstore chain in America.
Walgreens originally terminated its blockbuster merger with Rite Aid (RAD) - Get Rite Aid Corporation Report back in June as the deal's chances of receiving FTC approval grew more questionable. Despite leaving the deal behind, the revised plan leaves Walgreens plenty of opportunity for growth. The current plan would mean that it would pay $5.2 billion in cash for 2,186 Rite Aid stores, meaning Walgreens would have more than 15,000 stores, spanning 11 countries.
Will the FTC approve this deal or will the drugstore saga drag on?
Watch More with TheStreet:
- Kiss Rock Legend Gene Simmons Explains How to Make Money
- Stolen Credit Card? This Is What You Need to Do Immediately
- If You Buy Just One Tech Stock, Make It This Apple Supplier, Jim Cramer Says
- Amazon Affects How the Fashion World Does Business -- Designer Antonio Brown