Rite Aid, Albertsons plan $24B merger [Seeking Alpha]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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US:NYSE Investor Relations:
riteaid.com/corporate/investor-relations
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Source: Seeking Alpha
Rite Aid, Albertsons plan $24B mergerAlbertsons plans to buy the rest of Rite Aid (NYSE:RAD) that isn't being sold to Walgreens Boots Alliance (NASDAQ:WBA) as retailers respond to the recent M&A in the pharmacy sector and rapidly changing consumer landscape."We know that scale matters," said CEO Bob Miller. "We continue to grow to compete with all competitors, not just Amazon."Shareholders of Albertsons wouldhold roughly 71% of the combined company, while Rite Aid investors would own the rest.The deal would also allow Albertsons to go public after more than a decade of ownership by private-equity giant Cerberus Capital Management.Click to subscribe to real-time analytics on RADNow read:Rite Aid: Destination Insignificance »
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