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Walgreens-Rite Aid Deal Will Result In Huge Layoffs
- Fortune, Friday, November 6, 2015 8:02 AM
If Walgreens buys smaller rival Rite Aid, expect an “acquire and fire” scenario. Real estate services company Cushman & Wakefield says the new merged business, assuming Walgreens Boots Alliance buys Rite Aid for $17.2 billion including debt, could wind up closing 3,000 stores, 2,000 more than the 1,000 Walgreen's deal allowed for.
