The Presidential Daily Brief

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  1. Walgreens

    Walgreens to Acquire Rite Aid for $17.2 Billion

    Have they found a cure for competition? Walgreens Boots Alliance plans to buy their rival for $9.4 billion in cash and $7.8 billion in debt. The deal would merge America’s second- and third-largest drug chains for a combined $100 billion in annual sales and nearly 13,000 stores to challenge market leader CVS. Rumors of the deal — which would see the acquired stores revamped to focus on health and beauty — sent Rite Aid stocks upward, but speculation of antitrust scrutiny saw those gains drop in after-hours trading.

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