Late last year, Rite Aid rival CVS Health Corp. said it would buy the health insurer Aetna for $69 billion. Albertsons said it will continue to run Rite Aid stand-alone stores, and most of the grocery operator’s pharmacies will be rebranded as Rite Aid. Last September, Walgreens Boots Alliance Inc. announced a slimmer agreement to buy nearly 2,000 Rite Aid locations and some distribution centers for about $4.38 billion. For the remaining Rite Aid stores, Albertsons Companies is offering either a share of its stock and $1.83 in cash or slightly more than a share for every 10 shares of Rite Aid. Shares of Rite Aid Corp., which have shed more than half their value over the past year, climbed more than 4 percent in midday trading Tuesday.

Source: Washington Post February 20, 2018 12:54 UTC