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Rite Aid (RAD)

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Last Post: 4/20/2018 5:29:10 PM - Followers: 254 - Board type: Free - Posts Today: 4

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: Current Report Filing (8-k) 04/19/2018 04:21:59 PM
RAD News: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 04/19/2018 04:20:17 PM
RAD News: Rite Aid Commences Offer to Purchase Certain of its Outstanding Series of Notes 04/19/2018 04:15:00 PM
RAD News: Naloxone Available at Rite Aid Pharmacies in 19 States 04/19/2018 02:33:00 PM
RAD News: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 04/18/2018 10:33:25 AM
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PostSubject
#8566  Sticky Note $RAD State of Wisconsin Investment Board Has $7.08 $Pistol Pete$ 03/11/18 03:05:53 AM
#8742   Adding the dip today $Pistol Pete$ 04/20/18 04:53:56 PM
#8741   momentum?? Are you sure you understand what momentum fung_derf 04/20/18 09:46:28 AM
#8740   Didn't quite get the support I was hoping Sendme 04/20/18 12:07:23 AM
#8739   GOOD MORNING/ Rite Aid Corporation (NYSE:RAD): Albertsons Deal mick 04/18/18 10:29:10 AM
#8738   Watching the 1.65 to 1.67 Sendme 04/17/18 11:29:57 PM
#8737   $RAD Daily and Weekly Chart http://stockchart $Pistol Pete$ 04/17/18 08:48:49 PM
#8736   BUF thanks for info soundincrest 04/17/18 04:14:53 PM
#8735   I think it's early july BUFCARP 04/17/18 12:01:01 PM
#8734   BUF When is the Albertson's vote ? soundincrest 04/16/18 10:49:55 PM
#8733   Monday looking good here $Pistol Pete$ 04/16/18 12:28:30 PM
#8732   Well so far it's seams like we our BUFCARP 04/16/18 11:05:51 AM
#8731   What people thinking about rite aid on Monday. Milan3902 04/15/18 05:45:10 AM
#8730   Thanks $Pistol Pete$ 04/13/18 10:40:08 AM
#8729   Things might get interesting. This could be illegal_alias 04/13/18 09:19:16 AM
#8728   We are going to test lower prices again IMOP. farooq 04/12/18 08:20:10 PM
#8727   Awesome $Pistol Pete$ 04/12/18 12:08:17 PM
#8726   ~RAD~ UP +07/+4.27% with a pps of $1.71! Glta $RAD$ Mt69sinai 04/12/18 09:41:53 AM
#8725   Hopefully all of us derf.. I think now BUFCARP 04/10/18 10:20:17 PM
#8724   Good couple of days imo,,, expecting us to Mt69sinai 04/10/18 09:06:35 PM
#8723   who is "we"? fung_derf 04/10/18 11:58:44 AM
#8722   We see some descent earnings.. which I expect BUFCARP 04/10/18 11:33:47 AM
#8721   That would be nice. illegal_alias 04/10/18 10:27:00 AM
#8720   Looks like she is getting ready to run here! BUFCARP 04/10/18 09:49:06 AM
#8719   I know, but gotta try. As a illegal_alias 04/09/18 02:04:49 PM
#8718  Restored from your lips to God's ear fung_derf 04/09/18 01:38:43 PM
#8717   Not semantics. Trying to educate people on illegal_alias 04/09/18 12:21:48 PM
#8716   you guys are debating semantics. Just worry about fung_derf 04/09/18 12:15:13 PM
#8715   Yes, private companies do have shares. They just illegal_alias 04/09/18 12:09:03 PM
#8714   $RAD Rite Aid-Albertsons Deal Clears Key U.S. Antitrust Hurdle $Pistol Pete$ 04/09/18 12:08:44 PM
#8713   LOL. Good catch! Correction:"cusip" number. illegal_alias 04/09/18 12:04:32 PM
#8712   What the market is saying about the deal: illegal_alias 04/09/18 12:00:45 PM
#8711   Albertsons is currently not a publically traded company. billytbone 04/09/18 11:43:51 AM
#8710   a new cuspid? They are getting long in fung_derf 04/09/18 11:40:18 AM
#8709   Thanks. Glad those links clarify things for you. illegal_alias 04/09/18 11:35:45 AM
#8708   I see then, thank you for the link. proffetti 04/09/18 11:32:20 AM
#8707   What are you not understanding? Albertson's deal illegal_alias 04/09/18 11:24:28 AM
#8706   Albertson and Rite aid merger has NOTHING to investman3 04/09/18 11:24:14 AM
#8705   No IPO = No Abertsons shares available. proffetti 04/09/18 11:18:34 AM
#8704   Here's where you get the 1 share of Alberstons: illegal_alias 04/09/18 11:16:39 AM
#8703   Via the reverse merger. R/m's are not illegal_alias 04/09/18 11:10:20 AM
#8702   Yes, I'm familiar with the press release, but illegal_alias 04/09/18 11:09:16 AM
#8701   How do you get 1 share of Albertsons proffetti 04/09/18 11:09:10 AM
#8700   From the 2/20 press release. proffetti 04/09/18 10:58:00 AM
#8699   How do you figure that? illegal_alias 04/09/18 10:54:00 AM
#8698   no more $1.83 per share cash and 1 proffetti 04/09/18 10:50:23 AM
#8697   Much adoo about nothing. The IPO is illegal_alias 04/09/18 10:12:28 AM
#8696   Yes you would think, not even a shake proffetti 04/09/18 09:59:24 AM
#8695   Should be a lot of selling today. billytbone 04/09/18 09:54:22 AM
#8694   Albertsons IPO off the table for now proffetti 04/09/18 09:52:25 AM
#8693   Looks like a possible ABCD pattern could be Sendme 04/06/18 12:43:43 AM
PostSubject