A PYMNTS Company

US: Walgreens will divest up to 1000 stores to win Rite Aid Deal

By  |  September 8, 2016

Walgreens Boots Alliance said US antitrust regulators are requiring a divestiture of between 500 and 1,000 retail stores if its acquisition of Rite Aid will be approved.

The announcement comes during a period of intense regulatory scrutiny from US antitrust regulators with the Justice Department suing to block both the proposed purchase by health insurer Aetna of rival Humana as well as Anthem’s proposed purchase of Cigna. In the Walgreens-Rite Aid deal, it’s the Federal Trade Commission that is evaluating the transaction and demanding divestitures if the deal is going to win approval.

“Walgreens Boots Alliance now expects that the most likely outcome will be that the parties will be required to divest more than the 500 stores previously communicated, but still continues to expect that fewer than 1,000 stores will be required to be divested,” the company said in a statement Thursday.

Full Content: Chicago Tribune

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.