Drugstore chain Walgreens Boots Alliance Inc (WBA.O) said on Tuesday it would acquire smaller peer Rite Aid Corp (RAD.N) for $9.4 billion to widen its footprint in the United States and negotiate for lower drug costs. The $9-a-share cash deal, worth
Shares of Rite Aid and Walgreens soared on October 27th before pulling back on the 28th after news broke that Walgreens is paying $9.4 billion to acquire Rite Aid. While this may leave some investors scratching their heads,
That's a 48% premium to the closing price per share the day before the agreement was signed. Rite Aid shares were up as much as 40% earlier Tuesday after news broke of a potential deal. In after-hours trading, shares were
Shares of Rite Aid and Walgreens soared on October 27th before pulling back on the 28th after news broke that Walgreens is paying $9.4 billion to acquire Rite Aid. While this may leave some investors scratching their heads,
Rite Aid shares spiked by as much as 40% in trading on Tuesday after the Wall Street Journal reported that Walgreens was close to buying it.