Walgreens confirms it will buy Rite Aid for $9.41 billion

A woman exits a Rite Aid store, in Philadelphia.  (AP Photo/Matt Rourke, File)

A woman exits a Rite Aid store, in Philadelphia. (AP Photo/Matt Rourke, File)

NEW YORK — Walgreens confirmed Tuesday that it will buy rival pharmacy chain Rite Aid for about $9.41 billion in cash.

The Wall Street Journal first reported news of the deal.

Walgreens says it will pay $9 per share for Camp Hill, Pennsylvania-based Rite Aid Corp. That’s a premium of 48 percent to the closing price of Rite Aid Monday. The deal is worth $17.2 billion when debt is included, the companies said.

Walgreens Boots Alliance Inc., based in Deerfield, Illinois, is the largest U.S. drugstore chain, based on store counts. Rite Aid is the third largest.

The deal expected to close in the second half of next year.Rite AidUSwalgreens

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Gov. Gavin Newsom has signed legislation intended to help California schools reopen. (Kevin N. Hume/S.F. Examiner)
Newsom signs $6.6 billion school reopening legislative package

By Eli Walsh Bay City News Foundation Gov. Gavin Newsom and state… Continue reading

Recology executives have acknowledged overcharging city ratepayers. (Mira Laing/2017 Special to S.F. Examiner)
Recology to repay customers $95M in overcharged garbage fees, city attorney says

San Francisco’s waste management company, Recology, has agreed to repay its customers… Continue reading

A construction worker watches a load for a crane operator at the site of the future Chinatown Muni station for the Central Subway on Tuesday, March 3, 2021. (Sebastian Miño-Bucheli / Special to the S.F. Examiner)
Major construction on Central Subway to end by March 31

SFMTA board approves renegotiated contract with new deadline, more contractor payments

(Kevin N. Hume/S.F. Examiner)
Settlement clears path for all youth, high school sports to resume in California

John Maffei The San Diego Union-Tribune All youth and high school sports… Continue reading

Most Read