The companies amended their original agreement in January. Under the amendment, Walgreens agreed to divest up to 1,200 Rite Aid pharmacy stores, 200 more than the amount stated in the original agreement. The companies also agreed to reduce the price of each share of Rite Aid common stock from $9 per share to about $7 per share depending on the number of pharmacy stores Walgreens divests to satisfy the FTC’s complaint.
In its initial review of the agreement, the FTC expressed concerns about the deal, arguing the proposed transaction would be anticompetitive.
The companies initially agreed to an acquisition agreement in October 2015.
More articles on transactions and valuations:
76 hospital transactions and partnerships in March
This week’s 3 most-read transactions and valuations stories
Board of Governors OKs UCF, HCA hospital deal
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
