It’s been a busy week for East Pennsboro Township-based Rite Aid Corp. after it was announced Wednesday that it will be acquired by Walgreens Boots Alliance.
Nov. 13, 2015 — Long months lie ahead before Illinois-based Walgreens Boots Alliance’s proposed $17.2 billion purchase of East Pennsboro Township-based Rite Aid Corp. will be complete. Continue reading
Nov. 13, 2015 — While employees and community leaders worry about how the proposed $17.2 billion acquisition of Rite Aid Corp. by Walgreens Boots Alliance will affect the East Pennsboro Township drugstore chain’s corporate operations, shareholders and analysts are concerned about what the transaction will mean for investors and the pharmaceutical industry. Continue reading
Nov. 5, 2015 — With the pending sale of Rite Aid Corp. to Walgreens Boots Alliance has come a shuffling of C-suite executives at Rite Aid. Continue reading
Nov. 4, 2015 — U.S. Sen. Bob Casey is calling on the head of Walgreens Boots Alliance Inc. to protect midstate jobs after its planned purchase of Rite Aid Corp. is consummated. Continue reading
Nov. 2, 2015 — Walgreens Boots Alliance Inc. is willing to shed as many as 1,000 stores if required by regulators scrutinizing its $17.2 billion plan to purchase Rite Aid Corp. Continue reading
Oct. 29, 2015 — One of the many questions midstate residents are asking about Walgreens’ planned acquisition of Rite Aid is this: What will happen to the money and volunteers that Rite Aid has traditionally provided to the region’s nonprofits? Continue reading
Oct. 29, 2015 — Too big for comfort? Trying to take on Obamacare? Risky for shareholders? Tuesday’s announcement that Walgreens Boots Alliance plans to buy Cumberland County-based Rite Aid Corp. for $17.2 billion unleashed a torrent of media analysis and comment. Continue reading
Oct. 28, 2015 — Walgreens may be America’s largest drugstore chain, but Pennsylvania is Rite Aid country. Continue reading
Oct. 28, 2015 — Cumberland County-based Rite Aid Corp. initially will continue to operate under its own name following a $17.2 billion sale to Walgreens Boots Alliance, officials said Wednesday morning. Continue reading
Total cash amount: $17.2B after factoring debt
Per share amount: $9, or a 48 percent premium over Rite Aid’s close on Monday, the day before the deal was signed.
Tuesday trading: News of the sale on Tuesday sent Rite Aid’s stock (RAD) up more than 42 percent by day’s end, to $8.67, though it fell in after-hours trading to about $8.05 by Wednesday morning.
Expected close date: Second half of 2016
Transition: Rite Aid will be a wholly-owned subsidiary of Walgreens Boots Alliance, expected to initially operate under its existing brand name. But officials said “decisions will be made over time regarding the integration of the two companies, ultimately creating a fully harmonized portfolio of stores and infrastructure.”
Sept. 17, 2015 — Rite Aid Corp. reported strong sales and revenue figures for the second quarter of its fiscal year 2016 but did not meet analysts’ expectations for earnings per share due to a number of one-time expenses. Continue reading