Walgreens To Buy Rite Aid In $17.2 Billion Deal
Walgreens is set to buy Rite Aid for $9.4 billion in cash. This is the latest in Walgreens' slow rise to the top of the drugstore industry.By Katie Link | October 27, 2015
Walgreens Boots Alliance, Inc. is buying Rite Aid Corp. The price tag: nearly $9.4 billion in cash. The deal values Rite Aid, debt and all, at about $17.2 billion.
The move unites two of the nation's largest drugstore chains. Combined, they account for about 13,000 stores.
This follows Walgreens' acquisition of Duane Reade, USA Drug and Kerr Drug in the past five years. It also bought British pharmacy chain Alliance Boots last year. (Video via Walgreens)