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Rite Aid (RAD)

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Last Post: 10/13/2019 3:04:51 PM - Followers: 257 - 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: Current Report Filing (8-k) 10/15/2019 09:12:53 AM
RAD News: Rite Aid Announces Cash Tender Offers for Its Senior Unsecured Notes Due 2027 and 2028 10/15/2019 07:00:00 AM
RAD News: Statement of Changes in Beneficial Ownership (4) 10/09/2019 06:27:41 PM
RAD News: Initial Statement of Beneficial Ownership (3) 10/09/2019 06:22:10 PM
RAD News: Quarterly Report (10-q) 10/03/2019 11:58:31 AM
PostSubject
#10026  Sticky Note $rad $10 with news Taurus69 09/19/19 09:48:10 PM
#9238  Sticky Note $RAD Rite Aid Foundation Donates $50,000 to American $Pistol Pete$ 08/10/18 09:46:07 AM
#10055   $rad $10 with news Taurus69 10/13/19 03:04:51 PM
#10054   * * $RAD Video Chart 10-11-2019 * * ClayTrader 10/11/19 05:30:11 PM
#10053   News: $RAD 3 Big Retail Bankruptcies of 2019 whytestocks 10/06/19 11:50:24 AM
#10052   10 dun come an...gone ernie44 10/04/19 02:32:24 PM
#10051   News: $RAD 5 Stocks That Have Been Cut whytestocks 10/04/19 02:10:17 PM
#10050   congrats, sweet little pop for RAD INVESTORS today Earlofsandwich 10/03/19 02:16:23 PM
#10049   RAD and it's 18 plus Billion dollar scripts HeavenandHell 10/03/19 01:58:34 PM
#10048   News: $RAD Rite Aid Appoints Jim Peters As whytestocks 10/03/19 01:50:33 PM
#10047   If anyone is going BK it is PIR. mxp 09/27/19 02:14:41 PM
#10046   Not to mention, if a significant portion of Prudent Capitalist 09/27/19 11:17:18 AM
#10045   LMFAO!! The market understands the situation here. Prudent Capitalist 09/27/19 10:47:55 AM
#10044   That is unreal that we are diving! It mxp 09/27/19 10:39:52 AM
#10043   $7.69 right now AH, or unchanged from yesterday's Prudent Capitalist 09/26/19 04:32:47 PM
#10042   The stark realities of the situation appear to Prudent Capitalist 09/26/19 12:38:04 PM
#10041   Perhaps, but it's true that book value is $19. fung_derf 09/26/19 12:32:53 PM
#10040   The fact remains that RAD is bleeding lots Prudent Capitalist 09/26/19 11:45:41 AM
#10039   But the adjusted " second Quarter Adjusted Net colorfullife88200 09/26/19 10:39:31 AM
#10038   These guys couldn't care less as to the fung_derf 09/26/19 10:32:35 AM
#10037   LMFAO! Even if this POS does hit Prudent Capitalist 09/26/19 10:25:58 AM
#10036   Yup, it is bottom up and it should colorfullife88200 09/26/19 10:22:50 AM
#10035   News: $RAD Rite Aid Reports Fiscal 2020 Second whytestocks 09/26/19 10:20:24 AM
#10034   Yeah, if only my avg share price wasn't fung_derf 09/26/19 10:19:50 AM
#10033   Yup, almost there ! colorfullife88200 09/26/19 10:19:14 AM
#10032   Nice, yep. HeavenandHell 09/26/19 10:13:36 AM
#10031   Turnaround undervalue 09/26/19 10:12:36 AM
#10030   Nice! undervalue 09/26/19 10:12:25 AM
#10029   well I was going to consider it, but fung_derf 09/25/19 12:59:52 PM
#10028   $RAD look good today $Pistol Pete$ 09/24/19 11:49:05 AM
#10027   Will move fast on positive earnings, RAD is mxp 09/24/19 08:06:36 AM
#10026   $rad $10 with news Taurus69 09/19/19 09:48:10 PM
#10025   after the dividends---come the drops----- somebody must ernie44 09/19/19 05:02:45 PM
#10024   The bloodbath was a couple years ago. Now fung_derf 09/13/19 10:36:20 AM
#10023   Total bloodbath here today. billytbone 09/12/19 05:23:19 PM
#10022   * * $RAD Video Chart 09-12-2019 * * ClayTrader 09/12/19 05:16:42 PM
#10021   Could you please do another current RAD chart HeavenandHell 09/09/19 03:38:02 PM
#10020   News: $RAD Rite Aid to Release Second Quarter whytestocks 09/09/19 12:30:20 PM
#10019   I disagree I think this shoots up i. DopamineX 09/08/19 06:54:46 PM
#10018   It's too late that ship has sailed. billytbone 09/07/19 01:09:37 PM
#10017   Rite-Aid new CEO going to crush this. DopamineX 09/07/19 12:16:03 PM
#10016   Agree! DopamineX 09/07/19 12:15:50 PM
#10015   $rad $10 with news Taurus69 09/05/19 08:18:27 PM
#10014   Chapter 7 in 1 year. billytbone 08/30/19 06:15:16 PM
#10013   * * $RAD Video Chart 08-30-2019 * * ClayTrader 08/30/19 06:12:53 PM
#10012   * * $RAD Video Chart 08-29-2019 * * ClayTrader 08/29/19 05:21:53 PM
#10011   Not really and nothing it too late $Pistol Pete$ 08/28/19 03:18:01 PM
#10010   Bingo! You nailed it right there. Prudent Capitalist 08/27/19 10:27:59 AM
#10009   There is a reason RAD constantly hits new Tsales 08/26/19 07:57:40 PM
#10008   5.31 without...LOL Bostonsesco 08/24/19 06:54:18 PM
#10007   $rad $10 with news Taurus69 08/24/19 05:38:18 AM
#10006   Or bankrupt with worse news Miccojo 08/22/19 11:38:18 AM
PostSubject