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Business Cheetah 11-1-15
Walgreens
Pharmacy giant Walgreens announced Wednesday a deal is in place for it to acquire rival Rite Aid. The deal is expected to lead to some store consolidation.
Monumental news on the national level could turn out to be a tough pill to swallow here in McMinnville. It was announced Wednesday that pharmacy giant Walgreens has entered into a deal to buy one of its main rivals, Rite Aid, in what will be a $9.4 billion transaction.Exact details of the deal are still sketchy and a Walgreens spokesman told me Friday the company hasn’t hammered out all its plans as the deal isn’t expected to close until the second quarter of 2016. However, the part that has snared my attention is the statement there could be some store consolidations.