The Walgreens Boots Alliance takeover of Rite Aid may be facing a major hurdle, according to published reports.
Bloomberg, citing an article in the trade publication Capitol Forum, reported that the Federal Trade Commission is considering a lawsuit in an effort to stop Walgreens Boots’ $7 billion takeover of Rite Aid. There were no specifics offered regarding what issue or issues the FTC may have with the takeover.
In January, Walgreens Boots and Rite Aid agreed to extend the end day set for merger execution from January 27 to July 31. The move was done to give both parties additional time to obtain regulatory approved, the companies said at that time.
Any possible legal action by the FTC would also impact Fred’s Inc., which in December agreed to acquire 865 Rite Aid stores in the eastern and western portions of the United States for $950 million in cash.