Analyst: ‘Still chance of a reasonable outcome’ for Walgreens-Rite Aid deal | Chain Store Age

Tom Smith Uncategorized

An Evercore ISI analyst maintained his “buy” rating on Walgreens Boots Alliance stock, stating that although its proposed deadline for a deal with Rite Aid has been delayed, “there is still a chance of a reasonable outcome for both parties.”   The companies pushed back the deadline for merger from Jan. 27 to July 31 and trimmed the purchase price paid to Rite Aid to $6.50 to $7 per share — based upon the number of store divestitures the FTC requires — from $9 per share.  

Source: Analyst: ‘Still chance of a reasonable outcome’ for Walgreens-Rite Aid deal | Chain Store Age