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Rite Aid (RAD)

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Last Post: 7/21/2018 11:23:15 AM - Followers: 253 - 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: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 07/20/2018 05:46:15 PM
RAD News: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 07/20/2018 08:14:23 AM
RAD News: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 07/20/2018 08:13:55 AM
RAD News: Statement of Changes in Beneficial Ownership (4) 07/19/2018 04:17:51 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 07/19/2018 04:17:25 PM
News News Alert: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 07/20/2018 05:46:15 PM
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PostSubject
#9065  Sticky Note $RAD Dear Rite Aid Shareholder: $Pistol Pete$ 07/05/18 03:07:14 PM
#9123   You think those who are opposed to the jorak 07/21/18 11:23:15 AM
#9122   Pete we seem to be the RAD non HeavenandHell 07/21/18 07:08:01 AM
#9121   Ain’t going to win if we vote “No”. $Pistol Pete$ 07/21/18 06:39:42 AM
#9120   Vote NO! LavaStock 07/20/18 01:46:49 PM
#9119   I'm against it because I want them to fung_derf 07/20/18 12:24:06 PM
#9118   ((((((Voting = "YES". Here's Why))))) legalizeMJ 07/19/18 08:13:00 PM
#9117   Thanks for the chart and every time the $Pistol Pete$ 07/19/18 06:08:35 PM
#9116   Thanks again, HeavenandHell 07/19/18 06:05:22 PM
#9115   * * $RAD Video Chart 07-19-18 * * ClayTrader 07/19/18 04:33:54 PM
#9113   But not my core position....lol $Pistol Pete$ 07/19/18 01:08:40 PM
#9112   did you forget you sold them all two fung_derf 07/19/18 12:53:19 PM
#9111   Yes it is my Friend $Pistol Pete$ 07/19/18 12:33:05 PM
#9110   I don’t think so....I own 300,000 shares $Pistol Pete$ 07/19/18 12:32:57 PM
#9109   Looking good today RAD, HeavenandHell 07/19/18 11:04:26 AM
#9108   No, you won't. Not unless Albertson's then buys fung_derf 07/19/18 10:54:26 AM
#9107   you had better hope you have more shares fung_derf 07/19/18 10:53:51 AM
#9106   Agreed and this is the only way to $Pistol Pete$ 07/18/18 08:34:00 PM
#9105   Niiiiice! Ya I am going to vote yes Mt69sinai 07/18/18 07:53:31 PM
#9104   I got mine last week through Etrade. HeavenandHell 07/18/18 07:50:11 PM
#9103   Thanks....I will vote for a yes since Albertsons $Pistol Pete$ 07/18/18 07:21:47 PM
#9102   Great Job Pete!,,, just curious if anyone here Mt69sinai 07/18/18 07:13:27 PM
#9101   Thanks Brother and we are banking here again $Pistol Pete$ 07/18/18 05:02:11 PM
#9100   Nice day here in RAD land. Technicals neared HeavenandHell 07/18/18 04:10:18 PM
#9099   I sold them today and buy back some $Pistol Pete$ 07/18/18 03:48:50 PM
#9098   $RAD Daily and Weekly Charts http://www.stockc $Pistol Pete$ 07/18/18 02:47:57 PM
#9097   Nice close $Pistol Pete$ 07/17/18 10:25:31 PM
#9096   get serious this is going down the sewer ernie44 07/17/18 11:46:21 AM
#9093   $RAD Daily and Weekly Charts http://www.stockc $Pistol Pete$ 07/13/18 02:41:37 AM
#9092   Really???? Remember always put stop loss to prevent $Pistol Pete$ 07/12/18 10:29:01 PM
#9091   115k soon jablome 07/12/18 09:16:53 PM
#9090   Sure ;-) $Pistol Pete$ 07/12/18 05:19:02 PM
#9089   I believe you were too early. fung_derf 07/12/18 04:33:09 PM
#9088   OK, so you spent $131k today. I'm sure fung_derf 07/12/18 04:32:02 PM
#9087   Nice ;-) $Pistol Pete$ 07/12/18 04:27:50 PM
#9086   I did bought 80,000 shares at $1.64. Can’t $Pistol Pete$ 07/12/18 04:27:15 PM
#9085   If he didn't, I did. 1,700 at 1.65 Edmond 07/12/18 04:26:00 PM
#9084   So, did you buy shares today? fung_derf 07/12/18 04:22:43 PM
#9083   Good time for the re-entry today at $1.64 $Pistol Pete$ 07/12/18 04:22:03 PM
#9082   Any information on the new merger? Edmond 07/11/18 10:12:41 AM
#9080   Not too bad and time to load it $Pistol Pete$ 07/09/18 06:59:46 PM
#9079   not a good sign..driving_through"wallyworld"parkinglot_they had a sign that jablome 07/09/18 06:45:56 PM
#9078   How was the close today? fung_derf 07/09/18 04:59:32 PM
#9077   So what's the difference between getting one stock Antwan Jackson 07/09/18 10:55:43 AM
#9076   It is all legit to me though $Pistol Pete$ 07/09/18 10:43:01 AM
#9075   Well the issue is Albertsons has been hiding Antwan Jackson 07/09/18 10:39:19 AM
#9074   I don’t think this is scam with Albertsons $Pistol Pete$ 07/09/18 10:37:44 AM
#9073   What do you think the stock value of Antwan Jackson 07/09/18 07:00:30 AM
#9072   Nice close $Pistol Pete$ 07/07/18 12:19:49 AM
#9071   Not voting is the same as a no fung_derf 07/06/18 01:37:02 PM
#9070   Won't help common already in. They are screwed. packerfan9 07/06/18 01:22:18 PM
PostSubject