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Walgreens gets regulator's nod to buy Rite Aid stores
September 19, 2017 / 12:13 PM / 2 months ago

Walgreens gets regulator's nod to buy Rite Aid stores

Sept 19 (Reuters) - Drugstore chain Walgreens Boots Alliance Inc said it received regulatory clearance to buy 1,932 stores, three distribution centers and inventory from Rite Aid Corp for $4.38 billion.

The largest U.S. drugstore chain had said in July it would buy 2,186 Rite Aid stores for $5.18 billion after it failed to win approval to take over the nearly 4,600-store chain.

Walgreens said store purchases would begin in October, with completion anticipated in spring 2018. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Martina D‘Couto)

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