US: Antitrust lawmaker said Walgreens’ plan to buy Rite Aid ‘raises serious issues’
Two influential US senators called for close scrutiny of Walgreens Boots Alliance Inc’s plan to buy Rite Aid Corp. for $9.4 billion, a deal that would unite two of the three biggest US drugstore chains.
Walgreens Chief Executive Stefano Pessina said the company had analyzed the antitrust aspect of the deal but would not speculate on the number of drugstores it might need to divest in order to win regulatory approval.
Walgreens ranks first and Rite Aid third by number of stores, either side of CVS Health Corp.
The top two antitrust lawmakers in the US Senate on Wednesday urged antitrust enforcers to give the plan careful scrutiny because of the importance of healthcare in the US economy.
“I have fought tirelessly to promote competition in the health sector and I believe the proposed merger of two of the three largest drug store chains in the country raises serious issues,” Senator Amy Klobuchar, the top Democrat on the Senate Judiciary Committee’s antitrust subcommittee, said in a statement.
The subcommittee’s chair, Republican Senator Mike Lee, said he hoped antitrust agencies would “closely scrutinize” the deal.
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI