As Albertsons heads to pivotal vote in Rite Aid merger, touts strong earnings [Yahoo! Finance News]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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Source: Yahoo! Finance News
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.
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