Walgreens Calls Off Deal to Buy Rite Aid

Walgreens Boots Alliance and Rite Aid said on Thursday that they had called off their long-planned merger after antitrust authorities indicated they were not likely to approve the combination of two of the nation’s biggest drugstore chains.

Instead, Rite Aid will sell 2,186 stores, out of a total of 4,600, and three distribution centers to Walgreens for $5.18 billion, ending nearly two years of negotiations between the chains.

Read more at nytimes.com

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