Walgreens Gets Federal Approval To Buy Rite Aid Stores For $4.38 Billion

UNION CITY, IN — Fourth time's the charm for Walgreens Boots Alliance, as antitrust regulators from the Federal Trade Commission approved a deal for the company to buy 1,932 Rite Aid stores for $4.38 billion, Walgreens announced Tuesday. The Deerfield, Illinois-based drug store has been trying to gain regulatory approval for the sale over the past two years. Deerfield Patch reports the initial sale had been reduced from a starting offer of $9.4 billion for all 4,600 Ride Aid locations, and a subsequent bid of $5.18 for 2,186 locations.

Rite Aid stores are expected to begin being sold next month, and the process will reportedly be finished by spring 2018.

With the deal came concerns regarding possible changes to competition and prices, according to Bloomberg News via Deerfield Patch, adding an FTC chairman said they reviewed the purchase for nearly two years and arguing the move may even lower generic drug costs.

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For more information and to view Rite Aid locations in Indiana, visit locations.riteaid.com

(Contributions and photo via Jonah Meadows and Patch archive)