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John Standley

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

Rite Aid’s Ken Martindale named CEO of GNC

Rite Aid’s Ken Martindale named CEO of GNC

CAMP HILL, Pa. — Rite Aid Corp. president and CEO of stores Ken Martindale is leaving the company to become chief executive officer of GNC Holdings Inc. Rite Aid said Wednesday that with Martindale’s departure, Bryan Everett, currently executive vice president in charge of store operations, has been named chief operating officer of Rite Aid

Post-sale, Rite Aid foresees more productive store base

Post-sale, Rite Aid foresees more productive store base

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

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

Rite Aid looks ahead to stronger store base

Rite Aid looks ahead to stronger store base

CAMP HILL, Pa. — Rite Aid Corp. has provided a more detailed picture of its store base after the expected closing of its deal to sell nearly half its stores to Walgreens Boots Alliance (WBA). In a filing with the Securities and Exchange Commission, Rite Aid said it would have 2,336 stores following the sale

Rite Aid’s health care assets offer options

Rite Aid’s health care assets offer options

Investments made in recent years put Rite Aid in a better position to rebound from the terminated deal to be acquired by Walgreens Boots Alliance. Rite Aid’s acquisitions of retail clinic operator RediClinic, health care management specialist Health Dialog and pharmacy benefit manager EnvisionRx give it more options as its leadership considers the company’s future

Reports: FTC angling to block Walgreens-Rite Aid merger

Reports: FTC angling to block Walgreens-Rite Aid merger

NEW YORK — The Federal Trade Commission is readying a lawsuit to block the Walgreens-Rite Aid merger deal, according to published reports. Citing policy news service Capital Forum, which analyzes the antitrust review of mergers and acquisitions, Investors Business Daily said on Friday that the FTC was “preparing advice” to take action against the transaction,

Rite Aid execs: Merger approval not guaranteed

Rite Aid execs: Merger approval not guaranteed

NEW YORK — In a memo to employees this week, Rite Aid Corp.’s top executives appear to acknowledge that the company’s acquisition by Walgreens Boots Alliance (WBA) may not be cleared by the Federal Trade Commission. “We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval, and there can be

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

Rite Aid finishes fiscal year on positive note

Rite Aid finishes fiscal year on positive note

CAMP HILL, Pa. — Despite declines in net income, Rite Aid Corp. posted increased sales and exceeded Wall Street’s adjusted earnings per share forecast for its fiscal 2017 fourth quarter and year. Chairman and chief executive officer John Standley, however, noted that the ongoing regulatory review of Rite Aid’s deal to be acquired by Walgreens

Rite Aid names chief HR officer

CAMP HILL, Pa. — Rite Aid Corp. has promoted Ken Black to senior vice president and chief human resources officer. He succeeds Dedra Castle, who is leaving the company for personal health reasons. “On behalf of the entire Rite Aid team, I thank Dedra for her many significant contributions to our company,” Rite Aid chairman

The leaders are there; who will stand out in chain drug?

The leaders are there; who will stand out in chain drug?

Going into the new year, several key personnel questions await answers, foremost among them the age-old problem of determining who, in 2017, will emerge as the most influential senior staffers at America’s drug chains. The determination is made more difficult by the fact that, as of this writing, Walgreens’ acquisition of Rite Aid remains unresolved.

A momentous development for three Rx chains

A momentous development for three Rx chains

The agreement struck last month for the sale of 865 Rite Aid Corp. drug stores to Fred’s Inc. is a momentous development for those companies, as well as Walgreens Boots Alliance, which after 14 months is still working to finalize the acquisition of Rite Aid. The $950 million all-cash deal will bring Fred’s stores and