INO Health & Biotech Stock Guide
BIOTECH, HEALTH & PHARMA NEWS
The proposed Walgreens Boots Alliance, Inc. (NASDAQ:WBA) and Rite Aid Corporation (NYSE:RAD) deal continues to be drawn out and increasingly tumultuous between the companies involved and federal regulators. Recently, Rite Aid and Fred's Inc. (NASDAQ:FRED) shares dropped amid talk the Federal Trade Commission is leaning towards filing a lawsuit seeking to block Walgreens' planned acquisition of Rite Aid. In December of 2016, the companies announced an agreement to sell 865 stores to Fred’s for $950 million in cash. Earlier this year, Walgreens and Rite Aid agreed to divest more stores, boosting the number to 1,200 and to reduce their merger price.