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Rite Aid (RAD)

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Last Post: 10/19/2017 1:42:28 AM - Followers: 238 - Board type: Free - Posts Today: 1

WARNING:  The share structure appears to be growing by a considerable number of shares.  Do your due diligence and decide if the company is now paying its bills at the expense of shareholders.  Ultimately, any decision to invest is your own, but be aware of the changes to the number of shares available.                                                                                                                                                       
 

                                                                                   File:Rite Aid at Tanasbourne Village - Hillsboro, Oregon.JPG

                                                                                                                                                                http://www.riteaid.com/
                                                                                                                                                                 Rite Aid Corporation
                                                                                                                                                                   30 Hunter Lane
                                                                                                                                                                Camp Hill, PA 17055
                                                                                                                                                                     717-761-2633

Rite Aid Secures Regulatory Clearance to Sell 1,932 Stores and Related Assets for $4.375 Billion to Walgreens Boots Alliance Under Amended

 

Hart-Scott-Rodino Waiting Period Expires for the Proposed Transaction

Rite Aid to Significantly Reduce Debt and Strengthen Balance Sheet

CAMP HILL, Pa. - Sept. 19, 2017 - Rite Aid Corporation (NYSE: RAD) today announced that it has secured regulatory clearance for an amended and restated asset purchase agreement with Walgreens Boots Alliance, Inc. (Nasdaq: WBA) whereby WBA will purchase 1,932 stores, three distribution centers and related inventory from Rite Aid for an all-cash purchase price of $4.375 billion on a cash-free, debt-free basis. Rite Aid also has the option to purchase generic drugs that are sourced through an affiliate of WBA at a cost substantially equivalent to Walgreens for a period of 10 years. The Hart-Scott-Rodino waiting period expired for the proposed transaction.

Under the amended and restated agreement, Rite Aid will retain approximately 250 additional stores as compared to the prior agreement announced between Rite Aid and WBA in June 2017, resulting in a reduction in the transaction sale price. The decision to retain these stores follows discussions between Rite Aid and WBA, as well as the U.S. Federal Trade Commission ("FTC").

"Securing regulatory clearance provides us with a clear path forward to realize the benefits of this transaction. With a compelling and more profitable store footprint in key markets, enhanced purchasing capabilities and a stronger balance sheet and improved financial flexibility, we are well positioned to implement our plans to deliver improved results," said Rite Aid Chairman and CEO John Standley.

Standley continued, "I am proud of our entire Rite Aid team for their extraordinary efforts during this process and their tremendous dedication to taking great care of our customers and patients. We are committed to supporting a smooth transition as we remain focused on delivering a great customer experience, improving our business and creating value for all of our stakeholders."

The 1,932 stores included in the amended agreement are primarily located in the Northeast and Southern regions of the United States. The three distribution centers are located in Dayville, Conn., Philadelphia and Spartanburg, S.C. Under the terms of the amended agreement, Rite Aid will provide certain transition services to WBA for up to three years after the closing of the transaction.

The transaction has been approved by the Boards of Directors of Rite Aid and WBA and is still subject to other customary conditions. Approval of the transaction does not require a shareholder vote. Rite Aid and WBA expect to transfer ownership of the stores in phases beginning in October 2017, with the goal of completing the transfer of all stores in spring of 2018.

Rite Aid expects to use a substantial majority of the net proceeds from the transaction to repay existing indebtedness which will improve the company's leverage levels. Rite Aid also expects that the gain it will record on the sale of the assets will be largely offset by its net operating loss carryforwards, resulting in a minimal cash tax payment on this transaction.

Immediately following the completion of the transaction, Rite Aid will continue to operate approximately 2,600 stores and six distribution centers as well as EnvisionRx, its pharmacy benefit manager, RediClinic and Health Dialog. The company will leverage the capabilities of these subsidiaries to deliver a higher level of care in the communities it serves.

Rite Aid Corporation is one of the nation's leading drugstore chains that currently operates more than 4,500 stores in 31 states and the District of Columbia with fiscal 2017 annual revenues of $32.8 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.


                             
                                                                                                                               

                                                                                                                      

 


                                                                                                                                                                    Rite Aid News
                                                                                                                                             http://www.riteaid.com/company/news/

 

 

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RAD News: Rite Aid’s Medicare Advisor Tool Returns to Help Medicare Beneficiaries Select Prescription Drug Coverage for 2018 10/18/2017 09:10:00 AM
RAD News: Rite Aid Foundation Donates $50,000 to American Red Cross to Assist With Wildfire Relief Efforts in Northern California 10/17/2017 02:19:00 PM
RAD News: Derek Griffith Named Executive Vice President of Store Operations 10/17/2017 01:07:00 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 10/05/2017 04:35:31 PM
RAD News: Quarterly Report (10-q) 10/05/2017 10:46:41 AM
News News Alert: Rite Aid’s Medicare Advisor Tool Returns to Help Medicare Beneficiaries Select Prescription Drug Coverage for 2018 10/18/2017 09:10:00 AM
PostSubject
#5000  Sticky Note Blood in the water for Shorts & Longs Phaeton 07/07/17 01:58:53 PM
#7417   In the Saga of Rite Aid Corporation, Amazon IVRT 10/19/17 01:42:28 AM
#7416   Goodnight longs, nice to be at 1.87 green. Blocked Tardis24 10/18/17 08:46:06 PM
#7415   Rad worth 4.00$ lmao 4.10? try 1.92. Tardis24 10/18/17 08:30:09 PM
#7414   this stock could double and you still wouldn't Poor Trader 10/18/17 08:02:28 PM
#7412   You shorts have no argument. Goodluck. go do Tardis24 10/18/17 05:06:08 PM
#7411   Can Rite Aid Survive? proffetti 10/18/17 04:55:14 PM
#7410   impracticable - same monopoly unfolds as with WBA. proffetti 10/18/17 04:23:40 PM
#7409   your kidding right this has been rumored for Poor Trader 10/18/17 02:39:35 PM
#7408   Tardis, tikotiko 10/18/17 01:14:28 PM
#7407   you mean the rumor you are trying to start? fung_derf 10/18/17 12:23:51 PM
#7406   Rumor is its true RAD is talking to Tardis24 10/18/17 12:08:11 PM
#7405   This news shows Something is happening, IMO amazon Tardis24 10/18/17 12:02:19 PM
#7404   Looking good here, low volume build, setting up Tardis24 10/18/17 11:53:29 AM
#7403   Nope , 2 years sitting on a decision Tardis24 10/18/17 11:48:25 AM
#7402   Probably, if amazon enters the arena then they Tardis24 10/18/17 11:44:20 AM
#7401   Pardon my ignorance please. Would the balance rwwine 10/18/17 11:32:27 AM
#7400   Sheeeesh!! That is nonsense. RAD's Directors did Prudent Capitalist 10/18/17 11:01:03 AM
#7399   anthem to partner with cvs to launch own pbm Poor Trader 10/18/17 10:11:45 AM
#7398   Anthem to launch own pharmacy benefit management Poor Trader 10/18/17 10:08:14 AM
#7397   No rite aid management and walgreens management did Poor Trader 10/18/17 09:39:59 AM
#7396   Fraud drove it down under previous admin, swamp Tardis24 10/18/17 09:28:55 AM
#7395   I'm sure with current management being against the Poor Trader 10/18/17 09:26:01 AM
#7394   Once this gets close to .90-$1.10(2nd week of Mt69sinai 10/17/17 07:40:57 PM
#7393   Exactly. I told them it was a bull Ultimate Warrior 10/17/17 06:51:28 PM
#7392   R_UR_MM's_wondering if there getting pink slips? jablome 10/17/17 04:36:52 PM
#7391   terrible call went down fast and hard no Poor Trader 10/17/17 03:31:03 PM
#7390   thank you hope the no dividend liar scammers respond. Poor Trader 10/17/17 03:22:39 PM
#7389   Ok POOR_TRADER here is the deal. investman3 10/17/17 03:18:48 PM
#7388   FRAUD DROVE IT UP TO 8.50 THE TRUTH Poor Trader 10/17/17 03:15:45 PM
#7387   Careful here - long term trend is still down proffetti 10/17/17 03:11:42 PM
#7386   1.90 BULL TRAP HUGE SELLS COMING STRONG SELL. Poor Trader 10/17/17 02:58:36 PM
#7385   Derek Griffith update STILL NO GUIDANCE what a Poor Trader 10/17/17 01:49:51 PM
#7382   Bear trap in bearish chart? I don't think so. proffetti 10/17/17 12:59:37 PM
#7379   Bear trap confirmed by the 1 month chart, Tardis24 10/17/17 11:50:03 AM
#7378   collusion by management of both companies. 8.50 Poor Trader 10/17/17 11:43:25 AM
#7377   Strong Sell. take profits. goodluck and Poor Trader 10/17/17 11:41:41 AM
#7376   Thats proof that the share price went down, INSTATRADER 10/17/17 11:40:50 AM
#7375   8.50 to 1.63 is the proof. Poor Trader 10/17/17 11:40:01 AM
#7374   Show me that proof! INSTATRADER 10/17/17 11:35:55 AM
#7373   8.50 to 1.63 TOXIC DEBT is all I Poor Trader 10/17/17 11:35:13 AM
#7372   "IMO"... read it... learn it... understand what it means. INSTATRADER 10/17/17 11:32:04 AM
#7370   wrong , the previos swamp admin were all Tardis24 10/17/17 11:30:29 AM
#7369   8.50 to 1.63 washout of shareholder value from Poor Trader 10/17/17 11:28:52 AM
#7368   exactly , now is the WORST time to Tardis24 10/17/17 11:27:25 AM
#7367   Put "IMO" in your posts so people can INSTATRADER 10/17/17 11:26:16 AM
#7366   8.50 to 1.63 numbers don't lie. Poor Trader 10/17/17 11:25:48 AM
#7365   Lmao "lawsuits" "Bankruptcy " an Amateur shorts Starter Tardis24 10/17/17 11:23:49 AM
#7364   1.90 is not the time to go long. Poor Trader 10/17/17 11:22:44 AM
#7363   Back over $2 this will be soon.. today?:) DailyX 10/17/17 11:14:02 AM
#7362   When message board shorts start talking about "Bankruptcy Tardis24 10/17/17 11:13:15 AM
PostSubject