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Rite Aid (RAD)

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Last Post: 9/21/2018 8:24:21 PM - Followers: 255 - 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: Rite Aid to Release Second Quarter Results on September 27 09/19/2018 11:56:00 AM
RAD News: Statement of Changes in Beneficial Ownership (4) 09/18/2018 07:37:27 PM
RAD News: Health Dialog Earns NCQA Certification for 24/7 Nurse Line 09/18/2018 10:00:00 AM
RAD News: Rite Aid Foundation Awards $2 Million to Support Folds of Honor Scholarships Through KidCents 09/17/2018 09:30:00 AM
RAD News: Health Dialog Decision Aids Receive Certification from Washington State Health Care Authority 09/11/2018 10:00:00 AM
PlusOneCoin Top Posts
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PostSubject
#9238  Sticky Note $RAD Rite Aid Foundation Donates $50,000 to American $Pistol Pete$ 08/10/18 09:46:07 AM
#9352   posturing after the big down candle-- scared of ernie44 09/21/18 08:24:21 PM
#9350   Heavy AH volume-what, if anything is up? wodehouse 09/21/18 04:55:43 PM
#9349   $RAD Daily and Weekly Charts http://www.stockc $Pistol Pete$ 09/21/18 02:59:37 PM
#9347   New position and taking all profits. Now it $Pistol Pete$ 09/21/18 01:54:44 PM
#9346   Got 7k for .98 jablome 09/21/18 01:22:07 PM
#9344   Buying some $1.26....let’s see $Pistol Pete$ 09/21/18 12:40:05 PM
#9343   I'm glad we have settled this fung_derf 09/21/18 12:29:09 PM
#9342   Why not? wodehouse 09/21/18 12:18:47 PM
#9341   Why? fung_derf 09/21/18 12:14:41 PM
#9340   Would this be a good entry point @$1.30, wodehouse 09/21/18 12:01:58 PM
#9337   That is the 47th problem... .. jablome 09/21/18 11:43:31 AM
#9335   Not much to be said at this point. str8_chuter 09/20/18 09:48:10 PM
#9334   Maybe people just don't know what to say. robtewms 09/20/18 09:30:46 PM
#9333   Wondering why there are so few posts on wodehouse 09/20/18 09:05:36 PM
#9332   Who are "the keystone people?" wodehouse 09/20/18 02:10:00 PM
#9331   Why_are_the"keystone"People_allowing_this? jablome 09/20/18 01:06:49 PM
#9330   Because it sucks as a company and they've fung_derf 09/17/18 10:51:59 AM
#9329   Can some one, can explain me why RAD Neo_21 09/14/18 11:10:06 PM
#9328   7 years since last posted...........trading at 1.60 currently----but.....................WEBSITE ernie44 09/12/18 02:20:15 PM
#9325   We should start a movement to change the farooq 09/12/18 11:56:33 AM
#9324   Is it? Is it really? I'm struggling to fung_derf 09/12/18 10:57:05 AM
#9323   Someone will step forward. It's a good company investorpro1 09/12/18 08:17:43 AM
#9322   1.34 today Poor Trader 09/11/18 06:43:17 PM
#9321   I don't know. Poor Trader 09/11/18 06:42:16 PM
#9320   LMFAO! Walgreens (WBA) tried to acquire all Prudent Capitalist 09/10/18 04:12:25 PM
#9319   buyout is coming . walgreens?? scaptrader1297 09/10/18 04:04:33 PM
#9318   As soon as my other stock hit in Bostonsesco 09/09/18 10:48:16 PM
#9317   If it hits $1.55 could be break out. robtewms 09/07/18 11:49:37 AM
#9316   Tp (take profit)= 1.55 undervalue 09/07/18 09:59:58 AM
#9315   Same szenario here = Sears holding undervalue 09/07/18 09:59:16 AM
#9314   In. Time for rebound undervalue 09/07/18 09:58:25 AM
#9313   This post of mine from last Friday will billytbone 09/06/18 11:33:57 AM
#9312   Would not be surprised to see RAD trade Prudent Capitalist 09/06/18 11:23:36 AM
#9311   New 52-week low this morning. str8_chuter 09/06/18 11:04:29 AM
#9309   $RAD Daily and Weekly Chart http://stockchart $Pistol Pete$ 09/01/18 01:30:38 PM
#9308   You replied to yourself. billytbone 08/31/18 10:46:50 PM
#9307   who gave you that idea billy? jablome 08/31/18 10:27:25 PM
#9306   RAD headed for .90 billytbone 08/31/18 07:07:58 PM
#9305   True. I believe it will challenge the 52-week GolfFishSurf 08/31/18 10:45:19 AM
#9303   Touche! But back on topic, RAD adrift unless and str8_chuter 08/30/18 06:57:07 PM
#9302   Not much to "shoot" at anymore!! GolfFishSurf 08/30/18 02:39:15 PM
#9301   Oh yes, I can see it in their fung_derf 08/30/18 01:35:00 PM
#9300   What failure. That was the best move investorpro1 08/30/18 12:57:13 PM
#9299   Interesting how certain posters have vanished after the failure fung_derf 08/30/18 11:12:45 AM
#9298   $1.27 is 52-w low. Someone is getting ready robtewms 08/29/18 04:25:01 PM
#9296   me neither, but sometimes , have made out ernie44 08/23/18 11:15:08 AM
#9295   I am not interested in those ponzi issues. farooq 08/23/18 10:07:41 AM
#9293   BTM was 1.35... recovered to 1.42..... so for ernie44 08/20/18 06:14:47 PM
#9292   see it traded in after hrs to almost ernie44 08/18/18 10:40:18 AM
#9291   RAD moving to China? fung_derf 08/17/18 02:51:46 PM
PostSubject