Walgreens Boots Alliance and Rite Aid said Friday the Federal Trade Commission has requested more information about their proposed merger.
Walgreens and Rite Aid said they had expected the so-called “second request.” The companies still expect the deal to close in the second half of 2016.
Walgreens in October agreed to pay about $9.4 billion to buy Rite Aid, a move to create a drugstore giant at a time when companies in nearly every corner of the health-care industry are seeking to gain advantage from bulking up. The deal was expected to be closely scrutinized by antitrust regulators, as the companies are two of the three-biggest drugstore owners in the country.
In addition to regulatory approval, Walgreens’ deal also must be approved by Rite Aid’s shareholders.
Antitrust regulators have moved to scuttle a number of deals this year, including two earlier this week: Staples Inc.’s roughly $6 billion takeover of Office Depot Inc. and General Electric Co.’s $3.3 billion agreement to sell its appliances business to Electrolux AB of Sweden.
Full content: Komo News
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