Published On: Tue, Oct 27th, 2015

Walgreens will buy Rite Aid for $9.41 billion cash

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riteaidBREAKING: Walgreens Boots Alliance confirms it will buy Rite Aid for $9.41 billion in cash. Tuesday, TheWall Street Journal and Reuters both reported that Walgreen was close to buying its smaller rival in a deal that would be worth more than $10 billion. The merger further shrinks a drug retail industry that is already highly concentrated. There are just three companies in the broad Russell 3000 index now including Walgreens, Rite Aid and CVS, according to a USA TODAY analysis of data from Standard & Poor’s 500. Bringing two of these giants together creates a juggernaut only CVS can top.

Source: Walgreens and Rite Aid face one giant rival

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