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Rite Aid (RAD)

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Last Post: 11/14/2018 12:06:12 PM - Followers: 252 - 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

                                                                                                                                                                 Rite Aid Corporation
                                                                                                                                                                   30 Hunter Lane
                                                                                                                                                                Camp Hill, PA 17055

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



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RAD News: Rite Aid Foundation Donates $150,000 to Assist Wildfire Relief Efforts in California 11/15/2018 09:30:00 AM
RAD News: Rite Aid Becomes First Drugstore Retailer to Offer Kokie Cosmetics 11/12/2018 09:30:00 AM
RAD News: Initial Statement of Beneficial Ownership (3) 11/09/2018 11:58:47 AM
RAD News: Initial Statement of Beneficial Ownership (3) 11/09/2018 11:58:21 AM
RAD News: Initial Statement of Beneficial Ownership (3) 11/09/2018 11:57:28 AM
News News Alert: Rite Aid Foundation Donates $150,000 to Assist Wildfire Relief Efforts in California 11/15/2018 09:30:00 AM
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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
#9471   never say dye in a textile mill--- ernie44 11/14/18 12:06:12 PM
#9470   The merger is DEAD! IF, they did another fung_derf 11/14/18 11:59:51 AM
#9469   if the merger agreement is lowered again--might be ernie44 11/14/18 11:28:29 AM
#9468   100% agree I finally saw one right aid Bostonsesco 11/14/18 09:46:22 AM
#9467   http://archive.fast-edgar.com//20181109/ABZZ8G2C3Z22EZJZ28JP2ZZ2MSLSZ22RZPA2/ farooq 11/13/18 12:30:58 PM
#9466   I hate this company, but see the potential fung_derf 11/06/18 12:48:55 PM
#9465   If that's the case let's all cheer for Toro Twister 11/06/18 12:13:22 PM
#9464   Rite Aid is going down. CVs stock is MoneyShaker 11/06/18 11:59:29 AM
#9463   Oh no the news is a dirty ole 8k ernie44 11/06/18 09:55:27 AM
#9462   .98's would be looking darn good today Toro Twister 10/31/18 01:50:50 PM
#9461   Pulled my order but.98 the bottom? jablome 10/24/18 01:02:04 PM
#9460   I believe you fung_derf 10/23/18 02:19:28 PM
#9459   Rite Aid management is a joke! They couldn’t stallion70 10/23/18 01:58:42 PM
#9458   Vote management out - this is the month. Zowie 10/22/18 09:49:00 AM
#9457   Good morning $Pistol Pete$ 10/22/18 09:45:31 AM
#9456   Joke. SA probably Short. Be careful. $RAD robtewms 10/19/18 01:56:05 PM
#9455   98 cents Nebuchadnezzar 10/19/18 01:48:04 PM
#9454   https://seekingalpha.com/article/4212694-rite-aid-vote-em-october-30th?page=1 undervalue 10/19/18 01:07:34 PM
#9453   99cent stores!! lol where are all the buyers Nebuchadnezzar 10/19/18 12:51:55 PM
#9452   It wasn't rejecting the merger, it actually took fung_derf 10/19/18 12:43:30 PM
#9451   Rejecting the merger was assisted suicide undervalue 10/19/18 12:17:34 PM
#9450   Game over you idiots! undervalue 10/19/18 12:14:17 PM
#9449   So bad!!!! undervalue 10/19/18 12:12:56 PM
#9448   Stakeholders have destroyed themselves undervalue 10/19/18 12:12:34 PM
#9447   Fu rite! undervalue 10/19/18 12:11:27 PM
#9445   LMFAO! There is nothing of value left Prudent Capitalist 10/18/18 03:11:04 PM
#9439   Roar? Give me a f**kin break Nebuchadnezzar 10/17/18 06:27:40 PM
#9438   iorg soon rock and roll?! mrsdoubtfire 10/17/18 05:05:28 PM
#9437   Are you sure you understand how companies work? fung_derf 10/17/18 01:32:31 PM
#9436   Points taken. I believe a buy-out is better robtewms 10/17/18 01:03:24 PM
#9435   AT&T worked ok. fung_derf 10/17/18 12:34:37 PM
#9434   Not one reverse merger or buy out is jablome 10/17/18 12:11:20 PM
#9433   Doubtful, this company will roar under new management. Zowie 10/17/18 11:18:14 AM
#9432   you're still here? Amazing. fung_derf 10/17/18 10:56:37 AM
#9430   Let’s hope so my Friend $Pistol Pete$ 10/17/18 01:50:14 AM
#9421   This will reverse split before any buyout. Nebuchadnezzar 10/16/18 02:43:50 PM
#9418   Apparently, there was no deal. So, nothing to robtewms 10/16/18 01:15:04 PM
#9416  Restored That's such bunk. fung_derf 10/16/18 10:51:20 AM
#9415   Link please. It had to be a poopy robtewms 10/16/18 09:04:01 AM
#9414   Buyout? Mmmmmmmkay they just walked away from deal Nebuchadnezzar 10/16/18 06:49:44 AM
#9413   The reason is so people can buy more robtewms 10/15/18 08:58:54 PM
#9412   It's trading at $1.04 for a reason Nebuchadnezzar 10/15/18 11:48:07 AM
#9411   What am I missing? Not seeing any imminent Toro Twister 10/15/18 10:22:04 AM
#9410   There is money to be had here? That Toro Twister 10/15/18 10:19:17 AM
#9409   im_pulling_my_order_monday_is_dooms_day.(for markets) jablome 10/12/18 05:43:40 AM
#9407   cant short a dying horse-- one candle left ernie44 10/11/18 11:56:04 AM
#9406   Short sellers. This stock is NOT a BUY. Nebuchadnezzar 10/11/18 11:34:00 AM
#9405   Today, $RAD below 52-w Low. Some people are robtewms 10/11/18 10:29:02 AM
#9404   This company might go BK. At very least Nebuchadnezzar 10/11/18 08:44:32 AM
#9403   gettin nervous.. jablome 10/10/18 07:27:22 PM