WBA fell apart in On Wednesday of last week, another planned merger collapsedthis time with grocery store chain Albertsons. A major Rite Aid shareholder, Highfields Capital Management, opposed the deal, and shareholder advisory firm Institutional Shareholder Services ISS recommended that shareholders vote against the merger.
Share View photos Wall Street finished in the green reversing its five-day negative trend on Thursday following news that United States and China have ramped up their efforts to resolve lingering trade disputes More Rite Aid Corporation RAD is progressing well toward the completion of its pending merger with the grocer, Albertsons Companies, Inc.
The progress of the deal became evident, after the U.
Following this, Rite Aid is now urging its shareholders to vote in favor of the merger deal. Voting, regarding the proposed transaction, will be carried out in the Special Meeting of Rite Aid shareholders, which is scheduled for Aug 9, Shares of Rite Aid have declined nearly 6.
However, this Zacks Rank 3 Hold stock has surged The Background Rite Aid had agreed to merge with the largest grocer in the country, Albertsons, on Feb 18, The merger will not only help revive the distressed business of Rite Aid but also help in dispelling the fear of competition from Amazon AMZN.
This will leave shareholders of Rite Aid with about The new company will operate about 4, locations, including 4, pharmacy counters and clinics across 38 states and Washington D. It will serve more than 40 million customers per week.
The merger is approved by the boards of directors of both companies.
The drugstore industry, in general, has been witnessing increased consolidation lately. AET in January ABC seems to have cooled off in the early stages. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Aug 09, · Rite Aid shares plunged Thursday as the company headed into an uncertain future after calling off its merger with the grocer Albertsons.
Rite Aid management "will now after multiple attempts to sell the business have to go back to the drawing board, which is likely going to be a . Visit the Rite Aid online pharmacy and drugstore to manage and refill prescriptions, chat with a pharmacist, view rx history or learn about vaccinations.