Rite Aid Acquires 1,800+ Stores With Divestitures

Law360, New York (June 5, 2007, 12:00 AM EDT) -- Rite Aid Corp. has completed its approximately $3.5 billion deal to acquire more than 1,850 Brooks and Eckerd pharmacies from the Jean Coutu Group Inc., but agreed to sell off 26 stores to win regulatory approval.

The divestitures will remedy any alleged anti-competitive impact, the Federal Trade Commission and the attorney generals of seven states said Monday. Rite Aid will now have 5,160 stores in the U.S., primarily on the East Coast.

“The consent order with the Commission requires the companies to sell pharmacies in all...
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