Albertsons and Rite Aid have a message for investors: Size still matters [CNBC]
Rite Aid Corporation (RAD)
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Source: CNBC
As Albertsons Cos. and Rite Aid head to an August vote over their planned merger, the message to investors is simple: size still matters. The deal, announced in February, would create a new retail giant valued at roughly $24 billion that would combine Albertsons' grocery operations with Rite Aid's pharmacy business. But with Rite Aid, investors expected to hold a roughly 29 percent stake in the new company, some have pushed back against the combination, pointing to Albertsons' burdensome debt-load and recent performance struggles. Shares of the pharmacy chain have dropped roughly 24 percent since it announcing the deal. To sway investors, the two retailers have embarked on a public relations campaign. Those efforts have centered, in part, on the benefits that scale gives them — even as shopping in the U.S. shifts online and away from stores. The nation's largest retailer, Walmart , has been doubling down on its grocery and e-commerce investments. Competitor CVS
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