As the retailers continue to pursue their merger deal, Walgreens Boots Alliance and Rite Aid Corp. have certified substantial compliance with the “Request for Additional Information” issued by the United States Federal Trade Commission.
The request deals with issues related to Walgreens Boots’ proposed acquisition of all Rite Aid outstanding shares.
Walgreens Boots and Rite Aid entered into a timing agreement with the FTC in January 2016, pursuant to which the two companies agreed not to close the proposed merger until at least 60 full calendar days after both have certified substantial compliance with the information Second Request. The transaction remains subject to the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, approval by Rite Aid common stock holders and other closing conditions.
“We are pleased to have certified completion of our submission of documents and information to the FTC in connection with the Second Request,” said Stefano Pessina, executive vice chairman and CEO, Walgreens Boots Alliance. “We will continue to work closely with the FTC regarding the pending transaction.”