ECRM_1170x120_8-1-17

Stefano Pessina

First batch of Rite Aid stores go to WBA

CAMP HILL, Pa. — Walgreens Boots Alliance has taken over the first 97 of its acquired Rite Aid Corp. stores. WBA purchased 1,932 stores under a revised deal with Rite Aid after the government thwarted its acquisition of the entire chain. WBA also picked up three distribution centers and related inventory from Rite Aid as

WBA to buy stake in China’s GuoDa drug chain

WBA to buy stake in China’s GuoDa drug chain

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) plans to pay about $416 million to acquire a 40% stake in Sinopharm Holding GuoDa Drug Store Co. WBA confirmed the deal on Monday. GuoDa is the largest retail pharmacy operator in China, with nearly 3,700 stores. With stores in 70 major cities across the country, GuoDa is

WBA to shut 600 stores in Rite Aid integration

WBA to shut 600 stores in Rite Aid integration

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) is developing the picture of its future store base after turning the page on a nearly two-year process triggered by its proposed merger with Rite Aid Corp. Beginning next spring, WBA plans to shut 600 stores under an 18-month program to rationalize its U.S. drug store network

Trump declares opioid abuse a public health emergency

Trump declares opioid abuse a public health emergency

WASHINGTON — Following through on pledge made this summer, President Donald Trump has formally declared the nation’s growing opioid abuse epidemic as a public health emergency. In a press conference at the White House on Thursday, the president and First Lady Melania Trump announced the action, which has drawn plaudits from public officials and pharmacy

WBA to shut 600 stores in retail network overhaul

WBA to shut 600 stores in retail network overhaul

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) plans to close 600 stores starting next year as it rationalizes its U.S. drug store base following the $4.375 billion purchase of 1,932 Rite Aid stores. In reporting its fiscal 2017 fourth-quarter and annual results on Wednesday, WBA said it expects to finalize the Rite Aid store acquisition

WBA’s Q4 earnings top analysts’ forecast

WBA’s Q4 earnings top analysts’ forecast

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) beat Wall Street’s adjusted earnings per share forecast for its 2017 fourth quarter and fiscal year, with pharmacy results helping boost sales for both periods. However, WBA said Wednesday that costs related to the unsuccessful deal to acquire Rite Aid Corp. impacted its bottom line and pulled down

WBA-Rite Aid deal is approved

WBA-Rite Aid deal is approved

DEERFIELD, Ill. — Winding down a nearly two-year process, Walgreens Boots Alliance Inc. (WBA) has gained Federal Trade Commission approval to buy 1,932 stores, three distribution centers and inventory from Rite Aid Corp. for $4.375 billion in cash. The transaction also includes the WBA’s assumption of related real estate leases and an option for Rite

WBA cleared by FTC to buy 1,932 Rite Aid stores

WBA cleared by FTC to buy 1,932 Rite Aid stores

DEERFIELD, Ill. — Winding down a process that has taken nearly two years, Walgreens Boots Alliance Inc. has gained Federal Trade Commission approval to acquire 1,932 stores, three distribution centers and related inventory from Rite Aid Corp. for $4.375 billion in cash. The companies said Tuesday that the transaction also includes the WBA’s assumption of

What the new WBA-Rite Aid deal means

What the new WBA-Rite Aid deal means

NEW YORK — With the acquisition of Rite Aid Corp. by Walgreens Boots Alliance Inc. (WBA) now canceled and replaced by a smaller transaction, the chain drug landscape will retain a more familiar look. Nonetheless, all three parties to the original deal, which involved the purchase of 865 Rite Aid locations by Fred’s Inc., will

Walgreens Boots Alliance sees solid 3Q results

Walgreens Boots Alliance sees solid 3Q results

DEERFIELD, Ill. — Analysts said Walgreens Boots Alliance turned in a solid third quarter and stands to emerge on a positive note from its new deal with Rite Aid Corp. upon the termination of their merger. For the third quarter ended May 31, WBA posted net earnings (GAAP) of $1.16 billion, or $1.07 per diluted

WBA strikes new deal with Rite Aid

WBA strikes new deal with Rite Aid

DEERFIELD, Ill. — The long, drawn-out quest of Walgreens Boots Alliance Inc. (WBA) to acquire Rite Aid Corp. took another unexpected turn this morning when the two companies announced a new agreement under which WBA will purchase 2,186 stores, three distribution centers and related inventory from Rite Aid. The price will be $5.175 billion in

WBA pushes FTC for decision on Rite Aid acquisition

WBA pushes FTC for decision on Rite Aid acquisition

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has taken action to force the hand of federal regulators deciding whether to approve its pending acquisition of Rite Aid Corp. WBA and Rite Aid last month notified the Federal Trade Commission that they have complied with the agency’s second request for information on the deal. While

WBA, Rite Aid certify compliance with FTC

WBA, Rite Aid certify compliance with FTC

DEERFIELD, Ill., and CAMP HILL, Pa. — Walgreens Boots Alliance (WBA) and Rite Aid Corp. said they have met the Federal Trade Commission’s second request for information on their planned merger. Late Monday, WBA and Rite Aid announced that they have “certified substantial compliance,” meaning that they have provided the information needed to determine if

WBA’s Pessina still bullish about Rite Aid acquisition

WBA’s Pessina still bullish about Rite Aid acquisition

NEW YORK — Walgreens Boots Alliance Inc. (WBA) executive vice chairman and chief executive officer Stefano Pessina has expressed confidence that the company’s planned merger with Rite Aid Corp. will be approved by the end of July. “I am still optimistic that we will bring this deal to a successful conclusion, but there is no

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