PP_1170x120_10-25-21

Walgreens-Rite Aid merger

Fred’s names two new board members

Fred’s names two new board members

MEMPHIS, Tenn. — Fred’s Inc. has appointed two new board members as part of an agreement with hedge fund Alden Global Capital LLC, the discount and pharmacy chain’s largest shareholder. Fred’s said Monday that Steven Rossi, chief executive officer of Digital First Media, and Timothy Barton, founder and former CEO of Freightquote.com, have been named

Outlook: New landscape for drug chains?

Outlook: New landscape for drug chains?

NEW YORK — Entering the second quarter of 2017, the chain drug industry was awaiting answers to a couple of big, lingering questions. First, what will the chain drug landscape look like? A significant change in the field of players is likely in store pending antitrust clearance of Walgreens Boots Alliance Inc.’s (WBA’s) deal to

FTC reportedly may sue to block WBA-Rite Aid deal

FTC reportedly may sue to block WBA-Rite Aid deal

Rite Aid saw its stock price sink to a 52-week low on Wednesday after a report that the Federal Trade Commission may challenge the drug chain’s acquisition by larger rival Walgreens Boots Alliance. Citing trade publication The Capital Forum, Bloomberg reported that the FTC was mulling a lawsuit to block the deal. Rite Aid’s share

Fred’s ends fiscal year with net loss, lower sales

Fred’s ends fiscal year with net loss, lower sales

MEMPHIS, Tenn. — Fred’s Inc. reported declined sales and net losses for its 2016 fourth quarter and fiscal year as it awaits regulatory approval to buy up to 1,200 drug stores in connection with the Walgreens-Rite Aid merger. Fred’s said Thursday that sales for the fourth quarter ended Jan. 28, 2017, fell 4.5% to $529.7

Walgreens Boots Alliance sees sales dip in 2Q

Walgreens Boots Alliance sees sales dip in 2Q

DEERFIELD, Ill. — Despite an uptick in its Retail Pharmacy USA division, Walgreens Boots Alliance (WBA) reported declined sales for its fiscal 2017 second quarter, with adjusted earnings per share in line with Wall Street’s consensus estimate. Also on Wednesday, WBA had no further news to report on the status of the antitrust review of

Investment community antsy over Walgreens-Rite Aid

Investment community antsy over Walgreens-Rite Aid

Like everyone else waiting for the wrap-up of the Walgreens-Rite Aid merger, investment pundit Jim Cramer of TheStreet.com and CNBC’s “Mad Money” is getting impatient over the plodding antitrust review negotiations. Now approaching its 18th month, Walgreens Boots Alliance’s planned acquisition of Rite Aid has a deal end date of July 31, as per an

FTC pressed to decide on WBA-Rite Aid deal

FTC pressed to decide on WBA-Rite Aid deal

Walgreens Boots Alliance has gone ahead and set a deadline for the Federal Trade Commission to approve its deal to acquire Rite Aid Corp. According to the New York Post, WBA has “certified compliance” in its application, meaning that it has provided the FTC with the information needed to determine if the Walgreens-Rite Aid merger

WBA reportedly ups ante for Rite Aid deal approval

WBA reportedly ups ante for Rite Aid deal approval

The latest scuttlebutt on the Walgreens-Rite Aid merger: Walgreens Boots Alliance looks to be divesting even more stores and other assets to Fred’s. Citing anonymous sources, Bloomberg reported Tuesday that WBA is “nearing an agreement” to raise the number of stores to sell to Fred’s as well as include distribution centers, software and staff. No

Report: WBA may push FTC on Rite Aid deal decision

Report: WBA may push FTC on Rite Aid deal decision

It has been over 14 months and two deal date extensions since the announcement of Walgreens Boots Alliance’s agreement to acquire Rite Aid Corp. Now WBA may act to push the Federal Trade Commission to come to a decision. The New York Post reported that WBA may claim that it has “certified compliance” in its

WBA, Rite Aid amend terms of merger deal

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have extended the end date for their merger by six months, and have indicated a willingness to sell up to 1,200 Rite Aid stores to win Federal Trade Commission approval for the deal. Originally WBA said it was willing to divest up to

Fate of WBA-Rite Aid deal hangs in balance

Fate of WBA-Rite Aid deal hangs in balance

The major question in mass retailing this year, as the industry concludes the second month of 2017, is when — and indeed whether — Walgreens Boots Alliance’s acquisition of Rite Aid will be fruitfully concluded. As anyone who really cares knows by now the deadline for finalizing the Walgreens-Rite Aid merger has been extended to

Report: Walgreens-Rite Aid merger set to go

Report: Walgreens-Rite Aid merger set to go

After being announced well over a year ago and endless speculation, it looks like the Federal Trade Commission is set to sign off on Walgreens Boots Alliance’s planned acquisition of Rite Aid Corp. The New York Post reported late Wednesday evening that WBA is bullish that it’s latest store divestiture proposal will sway the FTC

Fred’s readies funding to buy more Rite Aid stores

Fred’s readies funding to buy more Rite Aid stores

MEMPHIS, Tenn. — Fred’s Inc. has amended a revolving credit facility in the event that it must acquire additional Rite Aid stores in connection with the pending Walgreens-Rite Aid merger. According to a filing with the Securities and Exchange Commission, Fred’s is increasing its revolving loan commitment to $225 million from $150 million. Among other

Jury still out on WBA-Rite Aid merger deal

Jury still out on WBA-Rite Aid merger deal

WASHINGTON — The acquisition of Rite Aid Corp. by Walgreens Boots Alliance (WBA) Inc. remained unconsummated after WBA’s plan to divest 865 stores failed to erase antitrust regulators’ competitive concerns. When the Friday, January 27, deadline for completing the Walgreens-Rite Aid merger deal arrived, the Federal Trade Commission still hadn’t cleared the transaction, despite the