Rite Aid shareholders are expected to vote on the company's proposed $24 billion sale to Albertsons, a Boise, Idaho-based grocery chain, Aug. 9, according to Forbes.
Here are four things to know:
1. Under the planned deal, Rite Aid investors would own roughly 30 percent of the combined organization, which would comprise 319 health clinics and more than 4,300 pharmacies, Forbes reports.
2. Proponents of the sale argue the deal represents the best offer Rite Aid will receive for the remainder of its business as Amazon's potential foray into the pharmacy space looms and rival organizations like Walgreens Boots Alliance and CVS Health explore mergers and acquisitions options to grow. In Rite Aid's July 21 letter to shareholders, officials said they "do not expect any other bidders" for the company.
3. However, new analyses of the proposed deal suggest Rite Aid could operate as a standalone organization and may find a better deal elsewhere, according to the report.
4. Rite Aid on Aug. 6 issued a worse than projected fiscal 2019 forecast. The company forecasted a net loss in 2019 of "between $125 million and $170 million, updated from the previously disclosed range of between $40 million and $95 million."
To access the report, click here.