Walgreens Boots Alliance Inc. Chief Executive Officer Stefano Pessina says he still believes in his company’s purchase of Rite Aid Corp., but declined to say whether the companies will extend the deal just three days from their agreed deadline to complete the merger. The acquisition hasn’t yet received antitrust approval from the Federal Trade Commission, and Walgreens hasn’t made a key filing saying it’s answered all the agency’s questions.
Category: Freds
Drugstore Chain Fred’s Deal Looks Promising, but Investors Should Be Cautious About the Stock
With the announcement last Tuesday of its acquisition of 865 Rite Aid stores, Fred’s has hit the national spotlight. If the purchase meets regulatory and other concerns, Fred’s would become the country’s third largest drugstore retailer.