|FROM ||Ruben Safir
|SUBJECT ||Subject: [Hangout-NYLXS] and one chain to control them all
|From hangout-bounces-at-nylxs.com Fri Oct 21 11:09:36 2016
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From: Ruben Safir
Date: Fri, 21 Oct 2016 11:09:28 -0400
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Subject: [Hangout-NYLXS] and one chain to control them all
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OK - here we go. This is inevitable fallout form the Obama Healthcare
law. Rite-Aid's stock is nearly valueless at $5.00 a share.
The FTC is struggling to get Walgreens and Rite Aid to merge
Kroger may not buy Walgreens-Rite Aid stores: sources
Firms are passing up chance to buy 650 Walgreens amid merger
Signs point toward FTC approving Walgreens-Rite Aid merger
Walgreens Boots Alliance, whose acquisition of Rite Aid is seen by some
as endangered, may have plenty of life left in it, The Post has learned.
The drug store giant is in talks with the Federal Trade Commission about
what it needs to sell to gain regulatory approval of the $17 billion
deal, sources said on Thursday.
The merger of Walgreens, the No. 2 chain, and Rite Aid, No. 3, would
create the country=E2=80=99s biggest drug chain, topping the reach of CVS H=
The talks with the FTC about divestitures is a sign regulators are open
to approving the merger, sources said.
Walgreens is now quietly auctioning stores in areas where the combined
chain would have too much overlap, sources said.
=E2=80=9CMulti-divestitures take time,=E2=80=9D a source close to the proce=
There has been concern among investors about the length of the FTC
review as regulators in recent months have been aggressive =E2=80=94
successfully stopping Staples from buying Office Depot and expressing
serious concerns about two pending transformative health insurance mergers.
Yet, the risk in Walgreens is a bit overblown, sources said.
Walgreens in October 2015 announced a deal to buy Rite Aid for $9 a
share. Rite Aid shares jumped to about $8.67 but have been trading at
about $8 until recently when, on fears the merger would be denied, they
dipped. On Thursday, they closed at $7.02, up 2.5 percent.
Rite Aid=E2=80=99s shares could fall to below $5 a share if the deal is blo=
Walgreens has not complied fully with the FTC=E2=80=99s second request for
information, sources said. However, that was part of Walgreens=E2=80=99
strategy. It first wants to know how many of the combined 13,000 stores
it needs to sell.
The FTC declined comment.
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