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Rite Aid (RAD)

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Last Post: 5/23/2019 12:25:32 PM - Followers: 261 - Board type: Free - Posts Today: 3

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: Measles-Mumps-Rubella Vaccine Available at Rite Aid Pharmacies in Maryland 05/16/2019 09:34:00 AM
RAD News: Rite Aid Expands Availability of Thrifty Ice Cream to Pacific Northwest 05/13/2019 11:00:00 AM
RAD News: Current Report Filing (8-k) 05/09/2019 04:35:43 PM
RAD News: Rite Aid Recognizes Six Pharmacy Team Members For Outstanding Service Through Its Annual Pharmacy Champions Program 05/07/2019 10:30:00 AM
RAD News: Current Report Filing (8-k) 05/02/2019 04:33:45 PM
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#9238  Sticky Note $RAD Rite Aid Foundation Donates $50,000 to American $Pistol Pete$ 08/10/18 09:46:07 AM
#9938   Heck! It's heading to zero! fung_derf 05/23/19 12:25:32 PM
#9937   Heading for $6. billytbone 05/23/19 12:17:16 PM
#9936   death knell fung_derf 05/23/19 12:14:24 PM
#9935   Selling their premium and most profitable stores as Tsales 05/22/19 07:39:43 PM
#9934   $rad $10 with news Taurus69 05/17/19 06:20:49 PM
#9933   There is nothing NICE about RAD fung_derf 05/17/19 11:41:21 AM
#9932   NICE HeavenandHell 05/17/19 11:19:50 AM
#9931   Still dropping. If I knew hot to short, Big ass Juan 05/09/19 03:57:48 PM
#9930   Contact your broker they should be able to Lazarus 05/09/19 01:54:58 PM
#9929   Near alltimelow! undervalue 05/09/19 12:18:58 PM
#9928   Lazarus...Interesting. how does one buy a corporate bond been there 05/09/19 12:01:16 PM
#9927   I will buy at $1.50, that is the Big ass Juan 05/08/19 06:36:15 PM
#9926   While the stock is down ticking the bonds Lazarus 05/07/19 02:36:45 PM
#9923   Why? Talk about trying to catch a Prudent Capitalist 05/07/19 12:43:08 PM
#9922   Back into RAD today @ $8.84 Lazarus 05/02/19 01:27:32 PM
#9921   The fear is private equity taking it to farooq 05/01/19 10:35:08 AM
#9920   The chart looks attractive from a TA (technical Odessa99 05/01/19 03:44:26 AM
#9919   $RAD 10 days 30' chart $Pistol Pete$ 04/30/19 08:47:20 PM
#9918   Hope is the only thing keeps you alive, LOL. farooq 04/30/19 07:26:25 PM
#9917   still have Hope's ha.. bunda 04/30/19 04:32:59 PM
#9916   One of these day private equity will come farooq 04/25/19 02:45:47 PM
#9915   Yes, became effective on Monday. billytbone 04/25/19 02:17:26 PM
#9914   Did rite aid do a reverse split. Milan3902 04/25/19 02:16:33 PM
#9913   I’m definitely not doing that’s really throwing your Patient Invester 04/24/19 02:56:30 PM
#9912   spread too thin---buy lottos, go to ernie44 04/24/19 02:29:40 PM
#9911   LOL! Have you looked at the market?? It fung_derf 04/24/19 12:04:07 PM
#9910   That’s all that ever happens these f..n days, Patient Invester 04/24/19 11:14:38 AM
#9909   LOL! Of course yesterday was a huge Prudent Capitalist 04/23/19 04:06:47 PM
#9908   I expect RAD stock to drop a lot, Big ass Juan 04/23/19 03:06:56 PM
#9907   down $1.03 ernie44 04/23/19 02:52:33 PM
#9906   We are trading 6% of the float today, farooq 04/23/19 02:36:28 PM
#9905   * * $RAD Video Chart 04-22-2019 * * ClayTrader 04/22/19 05:40:35 PM
#9904   Perhaps the article was out of date? fung_derf 04/22/19 10:49:38 AM
#9903   Rite Aid signed on a week or so HeavenandHell 04/22/19 10:47:20 AM
#9902   Walgreens are actually selling CBD in like 8-9 states. billytbone 04/22/19 10:44:07 AM
#9901   I was reading an article this weekend about fung_derf 04/22/19 10:41:22 AM
#9900   Rite Aid Board Selects 1-for-20 of Reverse Stock fung_derf 04/22/19 10:21:02 AM
#9899   nobody is loading up today ernie44 04/22/19 10:11:31 AM
#9898   Reverse stock split 20-1 Miccojo 04/21/19 09:04:22 PM
#9897   SMH Rite AID what happned 40 cents nascar_trading_pit 04/21/19 08:14:03 PM
#9896   $rad $10 with news Taurus69 04/21/19 08:55:31 AM
#9895   On April 18, 2019, Rite Aid Corporation (the 420man 04/18/19 05:34:32 PM
#9894   well then... all the more reason to have Lazarus 04/18/19 04:12:09 PM
#9893   The R/S becomes effective on Monday. billytbone 04/18/19 04:07:01 PM
#9892   I see some resistance here at .4827 so Lazarus 04/18/19 04:04:32 PM
#9891   I had RAD tagged for a buy - Lazarus 04/18/19 03:39:35 PM
#9889   * * $RAD Video Chart 04-17-2019 * * ClayTrader 04/17/19 06:10:26 PM
#9888   Nice close $Pistol Pete$ 04/17/19 05:46:11 PM
#9887   what's your hurry? fung_derf 04/16/19 11:19:01 AM
#9886   4/22 billytbone 04/16/19 09:58:37 AM
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