Walgreens is scrapping its deal to buy all of Rite Aid Corp. and instead will buy a smaller piece of the drugstore chain, after the original takeover effort seemed doomed by antitrust regulators.
It was reported on 09/19/17 that Walgreens received the government's sign-off on the deal.
Walgreens will buy about half of the over 4,500 Rite Aid stores, making Walgreens the largest pharmacy chain in the country but leaving Rite Aid as a regional chain. The 1,932 stores Walgreens agreed to buy are mainly in the Northeast, Mid-Atlantic and Southeast.
The following states will no longer have any rite aid stores:
Alabama
Georgia
Indiana
Kentucky
Louisiana
Maine
Mississippi
Rhode Island
South Carolina
Tennessee
Utah
West Virginia
The following states will have Fewer rite aid stores:
Colorado 21 stores reduced to 3 stores
Connecticut 77 stores reduced to 34 stores
Massachusetts 144 stores reduced to 10 stores
New Hampshire 68 stores reduced to 62 stores
New Jersey 251 stores reduced to 133 stores
New York 596 stores reduced to 323 stores
North Carolina 222 stores reduced to 9 stores
Ohio 224 stores reduced to 217 stores
Pennsylvania 536 stores reduced to 534 stores
Vermont 37 stores reduced to 6 stores
Virginia 185 stores reduced to 82 stores
No change in these states:
California (576 stores)
Delaware (42 stores)
Idaho (14 stores)
Michigan (274 stores)
Nevada (1 store)
Oregon (73 stores)
Washington (139 stores)
Walgreens said in a statement that it will begin acquiring the Rite Aid stores and related assets over a period of approximately six months, and intends to convert the stores to the Walgreens brand over time.
sources:
bloomberg.com | chicagobusiness.com | risnews.com | usatoday.com | charlotteobserver.com
