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The Chicago Tribune reports that the US Federal Trade Commission (FTC) has given its approval to Walgreens Boots Alliance’s $4.38 billion purchase of 1,932 Rite Aid stores.

According to the story, “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 (about half of Rite Aid’s locations), three distribution centers and other inventory for $5.18 billion. The distribution centers and inventory remain part of the deal. Most of the stores it will buy are in the Northeastern and Southern U.S., and will be converted to Walgreens stores over time.”
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