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Rite Aid (RAD)

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Last Post: 10/20/2017 6:34:50 PM - Followers: 237 - 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: RiteAid.com Now Accepting Apple PayTM 10/19/2017 09:12:00 AM
RAD News: Rite Aid’s Medicare Advisor Tool Returns to Help Medicare Beneficiaries Select Prescription Drug Coverage for 2018 10/18/2017 09:10:00 AM
RAD News: Rite Aid Foundation Donates $50,000 to American Red Cross to Assist With Wildfire Relief Efforts in Northern California 10/17/2017 02:19:00 PM
RAD News: Derek Griffith Named Executive Vice President of Store Operations 10/17/2017 01:07:00 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 10/05/2017 04:35:31 PM
PostSubject
#5000  Sticky Note Blood in the water for Shorts & Longs Phaeton 07/07/17 01:58:53 PM
#7452   It wouldn’t be smart to pull the trigger stallion70 10/20/17 06:34:49 PM
#7451   Board Warning::::: Buyer Beware//// the share structure is ResearchDD 10/20/17 03:20:39 PM
#7450   fortune 500 company my azz Poor Trader 10/20/17 02:41:28 PM
#7449   I know of one bull that is trapped Poor Trader 10/20/17 02:31:50 PM
#7448   This stock traps bulls. I hope the Ultimate Warrior 10/20/17 12:58:33 PM
#7447   Apple pay jshells 10/20/17 12:24:56 PM
#7446   Super slow start(on all plays) everyone but me jablome 10/20/17 09:52:47 AM
#7445   No 1.49 Poor Trader 10/20/17 09:38:44 AM
#7443   $2.00 + Tomorrow. Buckle up. Tardis24 10/19/17 09:26:56 PM
#7442   OFF WATCH OUTLOOK STABLE...........1.83 AFTER HOURS CLOSE. Poor Trader 10/19/17 08:14:24 PM
#7441   DJ pressrelease Poor Trader 10/19/17 08:00:45 PM
#7440   $$$$$$$$$$$ANNOUNCEMENT$$$$$$$$$$$$$$$ Poor Trader 10/19/17 07:52:17 PM
#7439   I guess the shareholders are footing the bills. proffetti 10/19/17 03:43:09 PM
#7438   Half of their PRs are about giving away Ultimate Warrior 10/19/17 03:23:18 PM
#7436   Something is a miss here. Poor Trader 10/19/17 02:03:24 PM
#7435   Silence from directors. Nothing but irrelevant PRs. Poor Trader 10/19/17 02:02:31 PM
#7434   literally worse stock of 2017. Poor Trader 10/19/17 01:54:50 PM
#7433   I agree with you on that 1.92 maybe less proffetti 10/19/17 01:47:45 PM
#7432   Getting ready to break down again. Bulls Ultimate Warrior 10/19/17 12:54:12 PM
#7428   Another share increase!?!? jablome 10/19/17 11:24:29 AM
#7426   Is RAD o/s now 1.1 billion shares? samstockguru 10/19/17 11:19:21 AM
#7424   so then why are you still ranting about fung_derf 10/19/17 11:16:59 AM
#7423   Nope , personally know some that were on Tardis24 10/19/17 11:10:54 AM
#7422   You really think anyone short hasn't taken their fung_derf 10/19/17 10:28:49 AM
#7421   Master kin dojo's bro...https://m.youtube.com/watch?v=3CGMWlXosp4 jablome 10/19/17 10:24:19 AM
#7420   Lol. This is more like an apparition in robtewms 10/19/17 09:54:21 AM
#7419   Apple is interested in RAD! meima1955 10/19/17 09:53:37 AM
#7417   In the Saga of Rite Aid Corporation, Amazon IVRT 10/19/17 01:42:28 AM
#7415   Rad worth 4.00$ lmao 4.10? try 1.92. Tardis24 10/18/17 08:30:09 PM
#7413  Restored banktruptcy coming watch the stock price to tell Poor Trader 10/18/17 08:00:47 PM
#7411   Can Rite Aid Survive? proffetti 10/18/17 04:55:14 PM
#7410   impracticable - same monopoly unfolds as with WBA. proffetti 10/18/17 04:23:40 PM
#7409   your kidding right this has been rumored for Poor Trader 10/18/17 02:39:35 PM
#7407   you mean the rumor you are trying to start? fung_derf 10/18/17 12:23:51 PM
#7406   Rumor is its true RAD is talking to Tardis24 10/18/17 12:08:11 PM
#7405   This news shows Something is happening, IMO amazon Tardis24 10/18/17 12:02:19 PM
#7404   Looking good here, low volume build, setting up Tardis24 10/18/17 11:53:29 AM
#7403   Nope , 2 years sitting on a decision Tardis24 10/18/17 11:48:25 AM
#7402   Probably, if amazon enters the arena then they Tardis24 10/18/17 11:44:20 AM
#7401   Pardon my ignorance please. Would the balance rwwine 10/18/17 11:32:27 AM
#7400   Sheeeesh!! That is nonsense. RAD's Directors did Prudent Capitalist 10/18/17 11:01:03 AM
#7399   anthem to partner with cvs to launch own pbm Poor Trader 10/18/17 10:11:45 AM
#7398   Anthem to launch own pharmacy benefit management Poor Trader 10/18/17 10:08:14 AM
#7397   No rite aid management and walgreens management did Poor Trader 10/18/17 09:39:59 AM
#7396   Fraud drove it down under previous admin, swamp Tardis24 10/18/17 09:28:55 AM
#7395   I'm sure with current management being against the Poor Trader 10/18/17 09:26:01 AM
#7394   Once this gets close to .90-$1.10(2nd week of Mt69sinai 10/17/17 07:40:57 PM
#7393   Exactly. I told them it was a bull Ultimate Warrior 10/17/17 06:51:28 PM
#7391   terrible call went down fast and hard no Poor Trader 10/17/17 03:31:03 PM
#7390   thank you hope the no dividend liar scammers respond. Poor Trader 10/17/17 03:22:39 PM
PostSubject