Headlines

Walgreens, Rite-Aid Merger Deadline Looms

$9.4-billion deal has until Friday or will need a second extension

Published

8 years ago

January 26, 2017

The deadline for Walgreens (Deerfield, Ill.) and Rite Aid (Camp Hill, Pa.) to complete the merger was originally set for tomorrow, however the Federal Trade Commission has yet to share its antitrust findings and whether the deal can move forward. No word has been made yet as to whether the deadline will be extended.

The original deadline for the deal was pushed back from Oct. 27 until Jan. 27, and the deal was expected to be finalized early this year. Walgreens has planned to sell some of stores to avoid competition concerns, however the FTC does not appear to be satisfied that those sales would resolve the issue.

Walgreens’ CEO Stefano Pessina believes the purchase will still go through, reports Bloomberg. The retailer still has yet to file a key document that would allow the FTC another 30 days to consider the $9.4-billion deal.

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