On October 27, 2015, Walgreens Boots Alliance (WBA) entered into a merger agreement with Rite Aid (RAD) and announced its intention to acquire Rite Aid for approximately $17.2 billion. According to the terms of the merger, Rite Aid will become a wholly owned subsidiary of Walgreens Boots once the deal is completed. Rite Aid’s stockholders will be entitled to receive $9 in cash for each outstanding share of Rite Aid. The transaction is expected to close in the second half of the calendar year 2016, subject to Rite Aid stockholder approval, regulatory approvals, and other customary closings.
View more information: https://marketrealist.com/2016/01/walgreens-boots-alliance-merger-walgreens-alliance-boots/