WBA and Rite Aid withdraw deal for 2,000-plus stores, to refile Friday

DEERFIELD, Ill. — Walgreens Boots Alliance and Rite Aid on Wednesday filed notice with the Securities and Exchange Commission that the companies would be withdrawing its initial deal to acquire 2,186 Rite Aid stores, and will refile that agreement by Friday, August 18.

That will reset the clock on the waiting period under the HSR Act with to Sept. 18, 2017, unless otherwise extended or terminated.

Following the termination of the deal to acquire Rite Aid outright, Walgreens Boots Alliance and Rite Aid on June 29 had agreed to a new deal under which Walgreens Boots Alliance would purchase almost 2,200 stores and three distribution centers from Rite Aid for $5.2 billion in cash.

“This new transaction extends our growth strategy and offers additional operational and financial benefits,” Stefano Pessina, Walgreens Boots Alliance executive vice chairman and CEO, stated at the time of the June announcement. “It will allow us to expand and optimize our retail pharmacy network in key markets in the U.S., including the Northeast, and provide customers and patients with greater access to convenient, affordable care.”

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