Walgreens

Walgreens to grow by 1,932 stores with Rite Aid deal

Walgreens to grow by 1,932 stores with Rite Aid deal

After years of trying, Walgreens Boots Alliance has received clearance from the Federal Trade Commission to expand its business through the purchase of 1,932 Rite Aid stores for $4.38 billion.

The FTC had long resisted a deal between Deerfield-based Walgreens and competitor Rite Aid, forcing the two to revise terms of a transaction several times since they proposed their merger in 2015. Originally, Walgreens had hoped to buy all of Rite Aid, America’s third-largest drugstore chain, in a deal then valued at $17.2 billion, including debt.

The deal announced Tuesday is smaller than the most recent agreement reached in June, which had Walgreens buying 2,186 Rite Aid stores...

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