Friday, June 30, 2017
Walgreens/RiteAid Drama Heats Up
Over a year ago, it was announced that Walgreens was buying RiteAid, but that plan was shot down by the antitrust regulators. Plan A and Plan B didn't work out, so now Plan C is that Walgreens will buy over 2,000 RiteAid stores, but not all. RiteAid will continue on as a much smaller chain. That's good news and bad news. RiteAid will get rid of much of its massive debt because of the sale, but it will lose much of its bargaining power with drug companies & major manufacturers to get price reductions. Since this plan has not yet been approved, there may yet be a Plan D in the future. Stay tuned for more drama.