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Walgreens Delays Rite Aid Deal Again

  • Reuters, Tuesday, January 31, 2017 8:01 AM

Drugstore chain Walgreens said its deal to buy smaller rival Rite Aid would now take six months longer to close and also reduced its offer price as it expects to divest more stores to gain regulatory approval. The companies said on Monday they agreed to reduce the offer price to $6.50-$7.00 per share, valuing Rite Aid at $6.84 billion-$7.37 billion.

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