We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Rite Aid, Albertsons Call Off Merger Amid Investor Concern

Law360 (August 9, 2018, 1:54 PM EDT) -- Rite Aid and Albertsons agreed late Wednesday to part ways and call off their proposed tie-up, citing mounting concern by Rite Aid investors that the offer by the private equity-backed grocery chain undervalued their shares.

Albertsons Cos. and Rite Aid Corp. mutually terminated their merger agreement, nixing a deal that would have seen the Idaho-based grocery chain acquire the parts of Rite Aid excluded from the pharmacy chain's $4.4 billion sale of nearly 2,000 stores to Walgreens Boots Alliance Inc. — assets that included a number of Rite Aid stores and its pharmacy benefit manager, EnvisionRxOptions PBM.

The proposed tie-up had faced criticism...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!