September 18, 2017 / 10:44 AM / 6 months ago

Walgreens to revise Rite Aid stores deal for antitrust approval: Bloomberg

(Reuters) - Walgreens Boots Alliance Inc (WBA.O) is set to revise its agreement to buy some Rite Aid Corp (RAD.N) stores, a move that may be enough for the drugstore chain operator to resolve outstanding antitrust concerns, Bloomberg reported.

Rite Aid’s shares were up 8.4 percent at $2.85 before the bell on Monday.

A pedestrian passes a sign for a Walgreens pharmacy in Somerville, Massachusetts, U.S., June 29, 2017. REUTERS/Brian Snyder

Walgreens is in final stage of negotiations with the Federal Trade Commission for its plan to buy more than 2,000 Rite Aid stores and is set to propose a modified deal, Bloomberg reported, citing people familiar with the matter. (

In June, Walgreens, the No.1 U.S. drugstore chain operator, said it would buy nearly half of the smaller rival’s stores for $5.18 billion, after it failed to win approval to take over the company.

    Both Walgreens and Rite Aid declined to comment.

    Reporting by Ahmed Farhatha; Editing by Sriraj Kalluvila

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