Last Friday, Jan. 27, was the deadline for the deal to close in the proposed acquisition of drugstore chain Rite Aid by competitor Walgreens. Today, the companies announced a revised deal with an eye to meeting Federal Trade Commission approval. This deal values Rite Aid at over $2 billion less, and proposes the sale of hundreds more stores to another drugstore chain. [More]
The proposed merger of mega-drugstore chains Walgreens and Rite Aid seems like a good idea to the companies, but the Federal Trade Commission remains skeptical. With a week left before the purchase agreement expires, the companies need the antitrust watchdog to sign off, and it looks like they may not get it. [More]
What to do, what to do, when you’re merging and want to be the biggest without being too big? Divest, of course. And that’s where Rite-Aid finds itself today: in order to sell itself to Walgreens and allow their onetime-competitor to become the biggest drugstore chain in the country, it’s ready to shed several hundred stores to build a new third-place competitor. [More]
If you know anyone who’s interested in buying around 650 grocery stores, Walgreens and Rite Aid would like to hear about it. The two drugstore chains need to find a buyer for between 500 and 1,000 stores to get their merger approved by the Federal Trade Commission, and no one is interested. [More]
When two companies in the same business want to merge, a common condition placed on the merger by authorities may be that one or both companies sell part of its business so there’s still some competition in the market. It looks likely that the Federal Trade Commission will approve the proposed merger of Walgreens Rite Aid, but Walgreens may have to give up more locations before the deal goes through. [More]
Walgreens and Rite Aid are the biggest and third-biggest pharmacy drugstore in this country, and they want to join forces to become a pharma-Voltron. The companies are waiting for regulatory approval, but the CEO of Walgreens Boots Alliance told shareholders today that the deal will probably go through by the end of 2016, and that it will result in the closing of only about 500 stores. [More]
A few months ago, the shareholders of #3 U.S. drugstore chain Rite Aid approved the company’s proposed acquisition by the parent company of the #1 chain, Walgreens Boots Alliance. Now reports indicate that the Federal Trade Commission may give the merger its blessing, as long as certain conditions are met. [More]
Walgreens’ path to bring Ride Aid under its wing passed one hurdle on Thursday, as shareholders for the latter chain of drug stores approved a $9.4 billion merger plan. [More]
In-store beacons are low-power Bluetooth devices that let stores or brands push promotions out to customers smartphones. They only work when the shopper has opted in by installing an app. Do you really want your favorite shampoo brand beaming coupons at you every time you walk by a shelf? They haven’t really caught on, but Rite Aid is deploying them in 4,500 stores. [More]
Nine retailers, including CVS and Rite Aid, have recalled two flavors of store-branded children’s liquid cold medicine over a potential overdose risk.
Last week, Walgreens Boots Alliance, the parent company of this country’s top drugstore chain, announced that pending antitrust approval, it would buy the #3 chain, Rite Aid, for $9.4 billion. That would create two massive national drugstore chains, and also leave a lot of empty stores. One estimate is that 3,000 stores would close… not necessarily for antitrust reasons, but because the stores are simply too close together. [More]
Walgreens Boots Alliance — the holding company that owns Walgreen Co. and Boots pharmacies in Europe — is reportedly looking to expand its portfolio of drug stores by adding Rite Aid into the mix.
If you like viewing and ordering prints of your digital photos from the comfort of your own home and then traipsing to the local Costco to pick up your memories, then we’ve got good news: Costco has finally relaunched its online photo services website after taking the site down upon discovering a breach in July. But there’s also a bit of bad news: some customers’ credit card information may have been captured in the year-long hack. [More]
In a reversal from its sudden decision in October last year to stop accepting Apple Pay at its stores after just a week of offering that option to shoppers, Rite Aid has announced it’s going back, and will allow it as a form of payment starting Aug. 15.
Less than a week after CVS took down its CVSphoto.com site while it investigates a possible credit card breach, at least four other retailers including Costco and Sam’s Club have suspended online photo services following notification by the company that manages or hosts photo services for the sites of a possible data breach. [More]