NEW YORK — The impending closure of Walgreens Boots Alliance’s purchase of nearly 2,000 Rite Aid stores will clear the fog around both companies since their terminated merger deal and enable them to move ahead, Wall Street analysts say. WBA and Rite Aid yesterday announced that the Federal Trade Commission approved a downsized agreement in
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
NEW YORK — Walgreens Boots Alliance (WBA) reportedly is modifying its agreement to buy 2,186 stores from Rite Aid Corp. to gain Federal Trade Commission approval for the deal, reached upon the termination of their planned merger. Bloomberg reported early Monday that WBA is winding down talks with the FTC and could soon unveil an
NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. are rescheduling the waiting period for a downsized store sale agreement reached upon the termination of their planned merger. According to recent filings with the Securities and Exchange Commission, WBA and Rite Aid agreed to withdraw their initial Hart-Scott-Rodino (HSR) Antitrust Improvements Act
The dynamism of the retail industry’s most active, innovative and forward-thinking members is raising the stakes for everyone in the field. Major developments with potentially far-reaching implications for the way consumers shop are occurring at an unprecedented rate. In just the past few weeks, Walmart and Amazon.com Inc. have ratcheted up the pressure on their
The current year is two-thirds finished, and the good news is most notable by its absence. Sales are soft, earnings elusive. Hot new items are few and far between. Growth is nowhere to be seen. Meaningful executive job shifts have been all but absent. Mergers and acquisitions have failed to materialize — and even those
NEW YORK — Walgreens Boots Alliance has launched CYO Cosmetics, a new, exclusive makeup collection targeted at younger women. WBA said Tuesday CYO offers 160 “hyperfunctional” cosmetics products for the face, eyes and lips at a price point that “encourages exploration and experimentation.” “CYO is challenging the norms of how beauty products are used. We’re
DEERFIELD, Ill. — Walgreens has always viewed itself as a customer-led organization. The guardian of that positioning in its modern manifestation is Adam Holyk. As senior vice president and chief marketing officer, he is responsible for the company’s approach to staying in touch with the people who shop the drug chain, both in its stores
When it comes to addressing front-end topics beyond the pharmacy, I could argue that many other words prove more effective than “conference” in describing the National Association of Chain Drug Stores Total Store Expo (TSE). For example, the word “conversation” comes to mind — conversation of the high-caliber, high-quality, highly collaborative and highly constructive kind.
Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. announced on June 29 that their merger is off, which goes to show you that nothing is certain in the world of retail mergers and acquisitions, especially with the U.S. government involved. The long and somewhat tumultuous process of WBA’s proposed acquisition of Rite Aid, which
CAMP HILL, Pa. — Rite Aid Corp. envisions a smaller but better-performing store base following the expected closing of its deal to sell nearly half its stores to Walgreens Boots Alliance Inc. (WBA). In a recent filing with the Securities and Exchange Commission, Rite Aid provided a more detailed picture of its store base after
In the aftermath of the failed Walgreens Boots Alliance Inc. (WBA) acquisition of Rite Aid Corp., very little has happened. Rather, it’s like the event itself, or the nonevent, was an ending, a development so sudden and final that nothing else could happen. WBA continues to gather momentum, adding sales and stores in the U.S.
NEW YORK — Walgreens Boots Alliance Inc. and Rite Aid Corp. are rescheduling the waiting period for a downsized store sale agreement reached upon the termination of their planned merger. According filings with the Securities and Exchange Commission yesterday, WBA and Rite Aid agreed to withdraw their initial Hart-Scott-Rodino (HSR) Antitrust Improvements Act notification and
MEMPHIS, Tenn. — Later this month, Alden Global Capital LLC president and founding member Heath Freeman is slated to join the board of directors at Fred’s Inc. Fred’s also said Monday that retail pharmacy veteran Christopher Bodine resigned from the board as of Aug. 11. Bodine, a longtime CVS executive, had joined Fred’s board in