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Rite Aid (RAD)

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Last Post: 1/20/2019 6:20:28 PM - Followers: 253 - 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: Statement of Changes in Beneficial Ownership (4) 01/08/2019 05:46:31 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 01/08/2019 05:46:31 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 01/08/2019 05:46:31 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 01/08/2019 05:45:37 PM
RAD News: Statement of Changes in Beneficial Ownership (4) 01/08/2019 05:45:11 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
#9662   Nice to c-ya Pete Go4itbigtime 01/20/19 06:20:28 PM
#9661   Let’s hope so $Pistol Pete$ 01/20/19 06:00:28 PM
#9660   DOLLAR LAND next week!!!!! Go4itbigtime 01/18/19 06:58:01 PM
#9659   * * $RAD Video Chart 01-18-2019 * * ClayTrader 01/18/19 04:31:39 PM
#9658   * * $RAD Video Chart 01-16-2019 * * ClayTrader 01/16/19 04:47:30 PM
#9657   THANK YOU, Rite Aid Corp. (RAD) mick 01/16/19 08:38:52 AM
#9656   Nice insymbols 01/16/19 07:37:35 AM
#9655   * * $RAD Video Chart 01-15-2019 * * ClayTrader 01/15/19 06:02:12 PM
#9654   * * $RAD Video Chart 01-10-19 * * ClayTrader 01/10/19 04:46:03 PM
#9653   I agree on your valuation but the problem proffetti 01/10/19 12:11:51 PM
#9652   Rite Aid is currently doing annual revenue of Odessa99 01/09/19 06:43:11 AM
#9651   What bothers me. With a billion in the manofIsle 01/08/19 07:33:01 PM
#9650   $rad $1 with news Taurus69 01/08/19 06:26:28 PM
#9649   * * $RAD Video Chart 01-08-19 * * ClayTrader 01/08/19 04:34:37 PM
#9648   * * $RAD Video Chart 01-07-19 * * ClayTrader 01/07/19 05:32:48 PM
#9647   This third push at .80 today might have Odessa99 01/07/19 11:58:19 AM
#9646   They might buy some stores in Canada... bcuz ernie44 01/06/19 11:52:34 AM
#9645   The reverse split is drama!! Use your head. manofIsle 01/05/19 02:18:44 PM
#9644   The reverse split is drama!! Use your head. manofIsle 01/05/19 02:18:41 PM
#9643   Hahahahaha, a RS! Their stupid shareholders should have stallion70 01/05/19 02:02:44 AM
#9642   Rite Aid Corp. (RAD) mick 01/04/19 07:03:15 PM
#9641   OK. Too busy now to do the research. fung_derf 01/04/19 03:54:48 PM
#9640   Here's the actual chart data (on the SHLDQ Odessa99 01/04/19 02:44:07 PM
#9639   I could be mis-remembering, but didn't Sears have fung_derf 01/04/19 02:33:06 PM
#9638   SHLD(Q) (Sears) was dropped from main NASDAQ, for Odessa99 01/04/19 12:57:15 PM
#9637   Delisting would have a HUGE impact. A reverse fung_derf 01/04/19 12:37:18 PM
#9636   The Cerner and Mckesson's CoverMyMeds deal may also ski007 01/04/19 12:26:05 PM
#9635   Reminds me of the Circuit City downfall. willlbone 01/04/19 12:04:50 PM
#9634   A delisting from the NYSE would have little Odessa99 01/04/19 11:48:54 AM
#9633   Some bounce back and recovery from tax loss Prudent Capitalist 01/04/19 11:06:14 AM
#9632   https://www.cnbc.com/2019/01/04/rite-aid-warned-of-risk-of-delisting-from-nyse-a GAB 01/04/19 10:22:38 AM
#9631   $rad holding top up! Taurus69 01/04/19 08:19:32 AM
#9630   * * $RAD Video Chart 01-02-2019 * * ClayTrader 01/02/19 04:50:39 PM
#9629   Lol runningsloth 01/02/19 02:18:54 PM
#9628   Newer and bigger fines issued to the worst fung_derf 01/01/19 01:51:30 PM
#9627   Absolute disaster. Who got suckered above $1? $1.50? Nebuchadnezzar 01/01/19 11:25:32 AM
#9625   * * $RAD Video Chart 12-31-18 * * ClayTrader 12/31/18 04:26:12 PM
#9624   In order for this company to stick around, fung_derf 12/31/18 11:30:14 AM
#9623   * * $RAD Video Chart 12-28-18 * * ClayTrader 12/28/18 04:23:11 PM
#9622   For the record. Rad has a long way manofIsle 12/28/18 03:20:18 PM
#9621   Whatever it is modrica 12/28/18 01:35:30 PM
#9620   It was the federal government that would not Prudent Capitalist 12/28/18 11:47:20 AM
#9619   I agree...by the way, I wish I had fung_derf 12/28/18 11:39:32 AM
#9618   The drop in RAD's share price of late Prudent Capitalist 12/28/18 10:57:52 AM
#9617   If you want to blame anything for the fung_derf 12/28/18 10:27:39 AM
#9616   Pennies. When 4th qtr and 1st qtr pass. manofIsle 12/28/18 10:25:40 AM
#9615   So, in other words, you have no real fung_derf 12/28/18 10:08:03 AM
#9614   $rad locations and competition Taurus69 12/28/18 09:45:46 AM
#9613   How about selling cigarettes. 1 cig at a manofIsle 12/28/18 09:40:20 AM
#9612   Ok. In areas were rad stores have a manofIsle 12/28/18 12:13:26 AM