Walgreens CEO Stefano Pessina recently revealed the firm has no backup plan should its lengthy proposed merger with Rite Aid fall through.
Pessina told analysts he doesn’t even want to imagine the merger won’t be approved, especially after the companies agreed to sell 865 Rite Aide locations to Fred’s — a department store and pharmacy chain — to help smooth the deal, the Wall Street Journal reports.
But the FTC still isn’t convinced that the deal would be best, especially since the combined entity resulting from a Walgreens-Rite Aide merger would create the largest retail pharmacy chain in the US and total more than 13,000 stores.
The FTC is still in the process of requesting information on the deal, and the two companies are hopeful they can close the merger sometime in early 2017.
Full Content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DirecTV and Disney Resolve Dispute, Restore Programming for Subscribers
Sep 15, 2024 by
CPI
UK Antitrust Authority Raises Concerns Over Vodafone-Three Merger
Sep 15, 2024 by
CPI
Brazilian Supreme Court Lifts Freeze on Starlink Accounts, Transfers $3.3 Million to National Treasury
Sep 15, 2024 by
CPI
Steptoe Expands Antitrust Practice with Key London Hire
Sep 15, 2024 by
CPI
Instant Ad Auctions at the Heart of Google’s Federal Monopoly Case
Sep 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández