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Rite Aid (RAD)

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Last Post: 12/12/2017 9:48:34 AM - Followers: 243 - Board type: Free - Posts Today: 2

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: Health Dialog Achieves 15 Consecutive Years of NCQA Accreditation for Disease Management Programs 09:18 AM
RAD News: EnvisionRx Continues its Clinical Prominence as One of the Nation’s Best at Drug Therapy 12/11/2017 03:17:00 PM
RAD News: Rite Aid Teams Up with Dr. Jennifer Caudle to Remind People to Get Vaccinated During National Influenza Vaccination Week 12/05/2017 09:43:00 AM
RAD News: Health Dialog Receives Certification for Decision Aids from Washington State Health Care Authority 11/29/2017 09:56:00 AM
RAD News: Detailed Research: Economic Perspectives on Mattel, Rite Aid, Sirius XM, Gulfport Energy, Costco Wholesale, and Fairmount San... 11/28/2017 07:45:00 AM
News News Alert: Health Dialog Achieves 15 Consecutive Years of NCQA Accreditation for Disease Management Programs 12/12/2017 09:18:00 AM
PostSubject
#7947   This might be a dumb question but haven’t Mistersam11 12/12/17 09:48:34 AM
#7946   dilution numbers will be out next earnings proffetti 12/12/17 09:07:25 AM
#7945   rite aid pistmeoff 4 the last time---its done--cooked---fried ernie44 12/11/17 08:21:47 PM
#7943   here's hoping this week we head above $2 hbhmb 12/09/17 12:46:57 PM
#7942   i think the earnings report will show which hbhmb 12/08/17 03:23:16 PM
#7941   Suncents and Gold, your predictions may be right, tikotiko 12/08/17 02:07:17 PM
#7940   RAD just hit 1.89 again. A nice SunScents 12/08/17 11:43:13 AM
#7939   I totally agree. Buying now in the 1.80 SunScents 12/08/17 09:57:07 AM
#7938   Too late for 1.5, imho has retraced as Gold_Coast 12/07/17 03:31:22 PM
#7937   Waiting for that as well. If it hits RawTradez 12/06/17 08:12:24 PM
#7936   Well stated fung. The precipitous recent drops Prudent Capitalist 12/06/17 03:09:07 PM
#7935   I don't short stocks, but I don't know fung_derf 12/06/17 01:41:53 PM
#7934   I actually have checked it repeatedly over the U GOT TRUMPED 12/06/17 01:28:38 PM
#7933   BWHAHAHA! Yes! By all means! Make a statement fung_derf 12/06/17 01:24:37 PM
#7932   I HOPE ALL RA LONGS FRY SHORTY LIKE U GOT TRUMPED 12/06/17 07:35:40 AM
#7931   I may buy some if it goes to $1.5 tikotiko 12/05/17 06:56:27 PM
#7930   No worries, RAD is just fine. It's another SunScents 12/05/17 02:23:04 PM
#7929   It was a good story after the Walgreens AUDACIOUSWON 12/05/17 11:39:32 AM
#7928   Not even a possibility. That notion was Prudent Capitalist 12/05/17 10:45:45 AM
#7927   Darn, same 'ol story here sorry for longs jablome 12/05/17 10:01:57 AM
#7926   I can see it,but people say 'prove it'.. jablome 12/04/17 04:09:25 PM
#7925   So is noone here concerned about the dilution? SuperPacMan 12/04/17 12:26:15 PM
#7923   HOGS in Rite Aid .. that's why proffetti 12/03/17 08:15:48 PM
#7922   Yes, it sure would be nice but I tikotiko 12/01/17 07:01:41 PM
#7921   Amazon should buy RAD Spicknspan 12/01/17 03:00:13 PM
#7920   I agree and this why I am eager tikotiko 12/01/17 11:15:10 AM
#7919   will see how santa does on Macy's parade--dec ernie44 12/01/17 11:05:21 AM
#7918   I was going to hold but 20% profit tikotiko 12/01/17 11:01:50 AM
#7917   * * $RAD Video Chart 11-30-17 * * ClayTrader 11/30/17 04:24:41 PM
#7916   Down 6%.....timberrrrr...reallY? Ok....whatever. :-) Mustang66 11/30/17 01:30:21 PM
#7915   Congrats! I sold some, got my initial Mustang66 11/30/17 01:28:55 PM
#7914   buy and hold--do not make your banker richer---dow ernie44 11/30/17 01:08:05 PM
#7913   I bought on Tuesday and sold yesterday for tikotiko 11/30/17 10:26:27 AM
#7912   Big gulp, thanks it was fun made my jablome 11/30/17 10:10:26 AM
#7911   Lol that’s all I can say lol masterbug1 11/30/17 09:51:09 AM
#7910   Timberrrrr lol masterbug1 11/30/17 09:47:39 AM
#7909   Shorts made it on the way down, longs Mustang66 11/30/17 08:59:24 AM
#7908   made some nice coin on this latest $RAD FightingBack 11/30/17 08:31:15 AM
#7907   Billy thanks I meant to say way overbought. packerfan9 11/29/17 08:08:02 PM
#7906   Way over sold billytbone 11/29/17 04:20:08 PM
#7905   * * $RAD Video Chart 11-29-17 * * ClayTrader 11/29/17 04:19:03 PM
#7904   Way over sold buy lower as it heads packerfan9 11/29/17 04:15:48 PM
#7903   August we hit 2.21? And I mentioned resistance AUDACIOUSWON 11/29/17 04:07:41 PM
#7902   Expecting pps to settle around $2 with all Mt69sinai 11/29/17 03:25:10 PM
#7901   Ya I missed out on run up been jablome 11/29/17 03:15:55 PM
#7900   i'm going to buy back on the dip proffetti 11/29/17 03:12:32 PM
#7899   Money out my ears what do I do? jablome 11/29/17 03:10:56 PM
#7898   burr here now, i knew it, called it proffetti 11/29/17 03:07:37 PM
#7897   I didn't average down like you did... proffetti 11/29/17 03:06:15 PM
#7896   2.25 ah , just like i called Tardis24 11/29/17 03:03:10 PM
PostSubject