Walgreens, Rite-Aid Merger Deadline Extended

Drugstore operators Walgreens Boots Alliance Inc. and Rite Aid Corp. indicated that the end date of their merger agreement has been extended from Oct. 27 to Jan. 27, 2017. In preparing for the acquisition, Walgreens indicated it would divest stores to obtain regulatory approval for the merger by the end of 2016.

Walgreens announced in Oct. 2015 that it would acquire Rite-Aid for $9.4 billion to both widen its footprint and generate lower drug costs.

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