Yesterday we got some pre—July 4th fireworks.
Walgreens Boots Alliance (WBA) announced a deal to buy 2,186 Rite Aid stores and three distribution centers for $5.2 billion. Rite Aid will also get the option to source generic drugs via the wonderfully named Walgreens Boots Alliance Development (WBAD) organization. Click here to read the press release.
With a potential FTC battle looming, WBA made the debt-laden Rite Aid an offer that it couldn’t refuse.
Before you head off for the long holiday weekend, please enjoy these thoughts on the new transaction along with commentary on Fred’s and the drug wholesalers.
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