Walgreens buying Rite Aid for $9.41B
NEW YORK – Walgreens is buying buy rival Rite Aid for about $9.41 billion in cash, creating a drugstore giant with nearly 18,000 stores around the world.
The deal combines the largest and third-largest U.S. drugstore chains, based on store counts. And it makes one of the world’s largest pharmaceutical buyers even bigger at a time when other key health care players like insurers are expanding through multi-billion dollar deals.