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Rite Aid (RAD)

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Last Post: 4/6/2020 6:53:46 PM - Followers: 258 - Board type: Free - Posts Today: 0

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: Amended Statement of Ownership (sc 13g/a) 02/12/2020 08:00:09 AM
RAD News: Current Report Filing (8-k) 02/11/2020 05:04:53 PM
RAD News: Statement of Ownership (sc 13g) 02/06/2020 09:15:03 AM
RAD News: Current Report Filing (8-k) 02/05/2020 05:21:54 PM
RAD News: Rite Aid Announces Closing of Exchange Offer for $600 Million of its Senior Notes Due 2023 02/05/2020 04:15:00 PM
PostSubject
#10192  Sticky Note Maybe it's more than just rumors..... 12Retyr 12/27/19 04:45:25 PM
#10026  Sticky Note $rad $10 with news Taurus69 09/19/19 09:48:10 PM
#10426   $rad $12.09 Taurus69 04/06/20 06:53:46 PM
#10425   Definitely - might test 16 again Atown62 03/30/20 04:17:16 PM
#10424   Support on this stock is at $13 or fung_derf 03/30/20 11:35:11 AM
#10423   Almost timber time Atown62 03/30/20 11:23:53 AM
#10422   that was last week--this one needs a mercy ernie44 03/30/20 11:20:12 AM
#10421   $rad $15.07 Taurus69 03/29/20 02:27:46 AM
#10420   was amazed at how RAD was holding up----now ernie44 03/25/20 09:36:04 PM
#10419   The worst website in the world. If you beenhadbefore 03/24/20 10:26:05 PM
#10418   The worst website in the world. If you beenhadbefore 03/24/20 10:02:05 PM
#10417   SCAry---border towns will suffer fromlack of tourists ernie44 03/21/20 07:46:03 PM
#10416   I see that as one of their problems. maynerd 03/21/20 03:48:29 PM
#10414   makes sense, and will be good if stock ernie44 03/21/20 01:11:12 PM
#10413   So toilet paper and water is saving the Penny City Sharps 03/21/20 10:31:47 AM
#10412   My wife works for Rite Aid and she maynerd 03/17/20 07:25:54 PM
#10411   Amazingly, this is the best stock to own fung_derf 03/17/20 11:24:31 AM
#10410   Transcript of today's webcast: 12Retyr 03/16/20 07:00:11 PM
#10409   Nice day for RAD when everything else was Penny City Sharps 03/16/20 04:15:56 PM
#10408   Stay tuned. That's about to change..... 12Retyr 03/14/20 12:56:27 PM
#10407   RAD should do great! They're probably the only fung_derf 03/13/20 10:19:49 AM
#10406   $rad $9.64 Taurus69 03/12/20 09:35:01 PM
#10405   That's because their stores are a good place fung_derf 03/09/20 01:45:08 PM
#10404   Rite Aid green (so far) in a sea 12Retyr 03/09/20 12:56:54 PM
#10403   Rite Aid has some good plans in store. shekelshock 03/04/20 02:03:42 PM
#10402   couldn't believe my eyes-----RAD AT 17,00 and ernie44 03/03/20 11:18:27 AM
#10401   I do think it has a long run fung_derf 03/03/20 10:11:48 AM
#10400   This really should lead to some fireworks this month. Penny City Sharps 03/03/20 07:10:46 AM
#10399   Rite Aid Corporation (NYSE: RAD) today announced that 12Retyr 03/02/20 05:25:16 PM
#10398   They are profitable now. I've seen worse. Where's fung_derf 03/02/20 03:21:29 PM
#10397   RAD at over $15 is way overpriced. billytbone 03/02/20 02:04:23 PM
#10396   Not terrible right now, if you put in fung_derf 03/02/20 10:25:43 AM
#10395   $rad $13.62 Taurus69 03/01/20 02:45:43 PM
#10394   I'll put money on it. AllGold818 03/01/20 10:03:21 AM
#10393   Very nice! Penny City Sharps 02/25/20 07:55:13 PM
#10392   $rad $16.04 Taurus69 02/22/20 08:04:59 PM
#10391   Did anyone else read the 8k? AllGold818 02/22/20 01:24:02 PM
#10390   Curious to see your thoughts on RAD for CleanGreen 02/22/20 03:38:48 AM
#10389   Loving my calls rn CleanGreen 02/21/20 11:17:37 AM
#10388   VOLATILE... but mainly up---which reminds me , am ernie44 02/21/20 10:43:03 AM
#10387   investorshub.advfn.com/uimage/uploads/2020/2/19/ubnohRITEAID.png 12Retyr 02/19/20 04:17:44 PM
#10386   * * $RAD Video Chart 02-13-2020 * * ClayTrader 02/13/20 06:07:18 PM
#10385   $rad $13.55 Taurus69 02/13/20 08:04:24 AM
#10384   price per book under 1 DeliverySuccess 02/10/20 02:45:29 PM
#10383   https://www.businesswire.com/news/home/20200204005657/en/Rite-Aid-Appoints-Andre 12Retyr 02/06/20 08:49:26 AM
#10382   Fisher’s Paradise AllGold818 01/26/20 11:19:23 PM
#10381   $rad $12.30 Taurus69 01/26/20 03:43:43 PM
#10380   Don't worry about that slow bleed. Just 12Retyr 01/24/20 04:59:36 PM
#10379   Looks like RAD correction continues. Dec holiday profit-taking TKane 01/24/20 03:44:36 PM
#10378   Correction is over, yet daily volume still much 12Retyr 01/22/20 05:05:09 PM
#10377   Specialty pharmacy types like RAD are expected to AllGold818 01/22/20 12:07:42 PM
#10376   $RAD tried and true here BoilerRoom 01/21/20 05:13:14 PM
PostSubject