Walgreens Boots Alliance has secured regulatory clearance for its amended agreement to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corporation for $4.375 billion in cash and other considerations.
More than $10 million was raised by Walgreens and Duane Reade customers nationwide for American Red Cross Hurricane Harvey relief efforts through donations at store checkouts.
Walgreens and Rite Aid have terminated their merger agreement. The decision to terminate the merger agreement follows feedback on the merger’s prospects received from the Federal Trade Commission, Rite Aid said. Rite Aid added that the potential FTC objection led the company to believe that the parties would not have obtained the commission’s clearance to complete the merger.
Fred’s reported a net loss in both its fourth quarter and fiscal year and continued to await the approval of Walgreens’ purchase of Rite Aid and the retailer’s related purchase of 865 Rite Aid stores.
Walgreens Boots Alliance is partnering with communications services firm WPP and selected a team of WPP agencies to develop a comprehensive marketing strategy for its retail and wholesale businesses as well as its health and beauty product brands.
In accordance with the terms of their merger agreement, Walgreens Boots Alliance and Rite Aid have mutually agreed to extend the end date of their merger deal from October 27, 2016, to January 27, 2017. The companies now expect the transaction will close in early calendar 2017.
Walgreens has expanded its e-commerce services with a ship to store initiative.
Walgreens has launched Beauty Enthusiast, a new beauty club within its Balance Rewards loyalty program. Consumers who are cardholders who register for Beauty Enthusiast will gain additional rewards on beauty and personal care items, as well as other benefits.
Walgreens Boots Alliance said it might have to divest more stores than previously indicated to gain FTC approval for its pending acquisition of Rite Aid Corporation.