Rite Aid (RAD) Shares Tank on Reports FTC May Not Approve Deal With Walgreens (WBA) - TheStreet

Rite Aid Shares Tank on Reports FTC May Not Approve Deal With Walgreens

Rite Aid shares are tanking on reports that the FTC may not approve Walgreens Boots Alliance's acquisition of the company.
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Rite Aid (RAD) - Get Report shares are tanking on reports that the FTC may not approve Walgreens Boots Alliance's (WBA) - Get Report acquisition of the company, even after promised Rite Aid store divestures to Fred's (FRED) .

Walgreens agreed to buy Rite Aid in October 2015 in a $9.5 billion cash and debt deal. The FTC had been investigating the deal based on antitrust concerns, which is what led to Walgreens' announcement that it would divest 865 Rite Aid stores to Fred's Pharmacy.

In a recent conference call on earnings, Walgreens' CEO said he expected the Rite Aid acquisition to close in the first half of the year.