Duane Reade purchase will be finalized next month
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Walgreen Co. (Deerfield, Ill.) says that the Federal Trade Commission has cleared its acquisition of New York City drugstore chain Duane Reade and expects the sale to be finalized in the next few weeks.
The sale will boost Walgreen’s presence with 257 Duane Reade stores in the New York metro area.
Walgreen offered to buy privately held Duane Reade Holdings in February for $623 million, including $457 million in debt held by Duane Reade. Walgreen says the acquired stores will keep the Duane Reade name.
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