Albertsons and Rite Aid didn't disclose the value of the agreement. Albertsons is privately held and Rite Aid is a public company. Its pharmacies will be rebranded as Rite Aid and some Rite Aids will continue to operate as stand-alone stores. Rite Aid CEO John Standley will become CEO of the new combined company while Miller will become chairman. Rite Aid (RAD) inched up 1% Tuesday after surging in pre-market trading.

Source: CNN February 20, 2018 13:04 UTC