What Auburn Rite Aid customers can expect as Walgreens, Albertsons take over

Rite Aid

Grocery store chain Albertsons announced Tuesday that it will purchase the remainder of independent Rite Aid stores, with the supermarket chain rebranding its own pharmacies as Rite Aid.

The deal will form a $24 billion company with 4,900 stores, including 4,350 pharmacy locations in 38 states branded under the Rite Aid name. The Stock has YTD (year to date) performance of 8.12 percent.

The deal includes Rite Aid sites in Washington state.

Albertsons plans to purchase the portion of Rite Aid that isn't being sold to Walgreens, The Wall Street Journal reported early Tuesday.

More notable recent Rite Aid Corporation (NYSE:RAD) news were published by: Seekingalpha.com which released: "Rite Aid's Turnaround Is Inevitable" on January 30, 2018, also Benzinga.com with their article: "Vetr Community Upgrades Rite Aid To Strong Buy" published on January 25, 2018, Seekingalpha.com published: "Rite Aid: Destination Insignificance" on February 12, 2018. Albertsons shares are expected to trade on the New York Stock Exchange under a yet-to-be-announced ticker symbol.

Elise Christie's Winter Olympics over as she gets disqualified from heat
She was also disqualified from her second race for inexplicably moving too far infield at the finish and missing the line. Maia and Alex Shibutani of the United States took the bronze medal with British pair Penny Coomes and Nick Buckland 11th.

The nation's largest drugstore chain, Walgreens, tried unsuccessfully to buy all of Rite Aid previous year but scuttled that deal after encountering regulatory resistance. Rite Aid also holds an enterprise value of around $5.08 billion. Deutsche Bank began coverage on shares of Rite Aid in a report on Monday, December 4th.

Signs posted outside the Pepperell store say the pharmacy is now a Walgreens.

Albertsons shareholders would own 70.4% to 72% of the combined company when the deal closes, while Rite Aid shareholders would own 28% to 29.6%. Albertsons also runs Jewel-Osco, Shaw's, Vons and Acme stores. In addition, customers can no longer use the Rite Aid online or mobile prescription refills, sot they must call or stop into the pharmacy to fill a prescription until the transition is complete. As competition heats up with e-retailers such as Amazon, store experiences become more important.

In the meantime, Amazon's entry in the grocery business by acquiring Whole Foods past year, has undoubtedly sent out ripples of anxiety among major core grocery giants such as Walmart. According to various reports, the agreement could generate around $83 billion in revenue.

Walgreens plans to buy about 2,000 of Rite Aid's locations, a little less than half, for about $4.4 billion after the Federal Trade Commission blocked the pharmacy chain's outright sale to Walgreens previous year.

Israeli Military Strikes Gaza Post After Border Explosion
In response, the IDF said one of its tanks struck terrorist objectives in the southern Gaza Strip. Two Palestinians were injured in the raids, Palestinian medical sources said.

Rite-Aid has always been the second largest drug chain in DE but has seen growing competition from CVS.

"Drug retailing has had its own challenges with reimbursement pressure and weak front-end sales as evidenced in Rite-Aid's weak profits over the last couple of years, and competing with much larger and more diversified drug retailers like CVS and Walgreens will be a formidable challenge", wrote Moody's vice president Mickey Chadha, in an email sent to Food Dive.

Reportedly, the company is looking forward to a cash and stock deal with Rite Aid. The combined company will be renamed following approval of the deal, Albertsons said.

"This powerful combination enables us to become a truly differentiated leader in delivering value, choice, and flexibility to meet customers' evolving food, health, and wellness needs", said Rite Aid CEO John Standley, who will become CEO of the combined enterprise.

Penn State tops No. 8 Ohio State
For Penn State , the victory built on the team's increasingly strong case to make the NCAA tournament. While Ohio State is assured of a spot in the NCAA Tournament, the same can't be said for Penn State .

Related News:



Most liked

UP Investors Summit 2018: PM Modi points out '4Ps' to progress
Aditya Birla group will invest about Rs25,000 crore in the state across sectors over the next five years, he said. Chandrasekaran, Kumar Mangalam Birla and Shobana Kamineni will also speak during different sessions.

Pro Assad Government Forces Entered Syria's Afrin As Reinforcement
However, Istanbul has denied that pro-Assad forces in Afrin are working in coordination with Damascus. Unfortunately, terrorist groups like these sometimes make missteps according to their own decisions.

Flu Cases Rising in Texas Panhandle
Health Department spokesman John Ricci says it is not too late to get vaccinated if you haven't received the flu vaccine yet. According to doctors at Public Health Ontario, the vaccine may protect people from having heart attacks.

Latvian PM says central bank chief should resign
The document, obtained by Bloomberg News , didn't name him, referring only to a "very high-level, senior Latvian public official". It says Mr Rimsevics has been demanding payments since 2015 and threatening tougher regulation if the money was not forthcoming.

Android P will prevent idle apps from recording using device's microphone
It may stick around "for a few months", which is how long Google reckons it will take to fold P2P payments into Google Pay . If you're unsure about what Google Pay is and how you can use it, here is a quick guide that takes you through the basics.

Mueller's Russia Indictments: Covering Up for the Deep State?
US intelligence services say that Russian Federation interfered with the 2016 presidential election . Perhaps evidence of collusion between Trump officials and Russian Federation will still emerge.

Thai court hands surrogate kids to Japanese father
Shigeta, who has kept an extremely low profile, did not attend the court's sessions and had a lawyer represent him. Shigeta had asked the court to grant him sole custody and produced evidence to support his financial credentials.

'Dozens' of Russians hurt in Syria attack, says ministry
The U.S. has estimated about 100 pro-Syrian government forces were killed by U.S. strikes to repel the February 7 attack. The coalition warned the Russian military and proceeded to strike the formation, killing up to 100 people.

State's new congressional map could boost Democrats
When justices first declared the previous map unconstitutional on January 22, they ordered the GOP-controlled legislature and Gov. As before, there are 18 congressional districts in the state - but the numbers and shapes of those districts are very different.

Netanyahu to Face Knesset Questioning on Corruption Cases
Zarif denounced what he said were Israel's "almost daily illegal incursions into Syrian airspace". To have nuclear weapons, Netanyahu said, "you need a gun, bullets, and gunpowder".

Turkey frees German-Turkish journalist
Germany's foreign minister later told reporters that Yucel was on his way to an Istanbul airport and can "freely leave Turkey ".

Black Caps coach Mike Hesson provides a timely dose of common sense
The result leaves Jos Buttler's men without a win in the series after losses to Australia in their previous two matches. Victory stopped England from slipping to a record fifth consecutive defeat in T20 internationals, however.

NA Haris's son surrenders after being booked for thrashing man
The former deputy chief minister visited the victim at Mallya Hospital, where he is undergoing treatment. He tweeted , "Offenders should be punished to the full extent of law regardless of who they are".

Bill Kelly: Is the Progressive Conservative leadership race invalid?
Meanwhile, for the Progressive Conservatives, Brown's resignation touched off a leadership contest now featuring four contenders. Brown certainly appeared for more upbeat than he had just a week earlier when he began his comeback attempt.

Olympics Luge Women's Final live stream, start time, TV channel
The announcement was made today by Christopher Adams, VP of Venue Engineering, NBC Olympics, and Glen Levine, President, NEP U.S. The Monday " Hannity " episode was the week's most-watched cable program, averaging 3.903 million viewers, 40th overall.