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Walgreens gets regulatory nod for slimmed-down Rite Aid deal

Staff Writer |
U.S. antitrust regulators have allowed a slimmed-down deal for drugstore chain Walgreens Boots Alliance to buy about 42 percent of Rite Aid’s U.S. stores for $4.38 billion.

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Walgreens will acquire 1,932 Rite Aid stores, 254 fewer than it announced in July, in areas where competition between the two chains is not significant.

One member of the Federal Trade Commission was concerned that a smaller Rite Aid may be unable to compete against its larger rivals.

The deal began as an offer made in October 2015 to buy all of Rite Aid’s 4,600 stores. But Walgreens failed to win approval for that $9.4 billion deal and rejigged it.

Walgreens operates stores under its own name as well as Boots stores in Britain and Duane Reade stores in the United States.

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