Walgreens gets regulatory nod for slimmed-down Rite Aid deal - where can i buy a boot dryer

(Reuters)-U. S.
Antitrust regulators have allowed
Walgreens Boots Alliance, chain pharmacy (WBA. O)
Buy 42% of Rite Aid Corp (RAD. N)U. S. stores for $4.
38 billion, Walgreens said Tuesday.
Walgreens will buy 1,932 Rite Aid stores, 254 less than the one announced in July, and competition between the two chains does not matter.
Shares of Rite Aid fell. $ 3%. $2.
When Walgreens were behind
$ 8% to $81. 11.
A member of the Federal Trade Commission is concerned that smaller etiquette aid may not be able to compete with larger competitors.
The deal expanded wargreen's footprint in the United States, starting in October 2015 with the acquisition of 4,600 stores in Rite Aid.
But Walgreens failed to get approval for $9.
4 billion of the transaction, restart.
Walgreens runs stores under his own name, Boots stores in the UK and Duan Reid stores in the United States.
Under this agreement, Rite Aid has the option to join Walgreens's group purchase agreement to negotiate discounts on generic prices.
Walgreens said they will also acquire three distribution centers in Connecticut, Pennsylvania and South Carolina for Rite Aid.
The acting chairman of the Federal Trade Commission, Republican Maureen Ohlhausen, who approved the deal, said that a substantial reduction in etiquette assistance would still be able to effectively work with WalgreensS.
CVS Health Company chain (CVS. N).
"Walgreens's acquisition of the Rite Aid store in the revised deal is limited to areas where competition between the two companies is not significant," she said . ". Kroger (KR. N)and Wal-Mart (WMT. N)
Other large supermarket chains and retailers also offer a large number of pharmacy services, she added.
Commissioner Terrell McSweeny is a Democrat and the only member under the age of five
Members of the committee said she was concerned that the agreement would "continue to raise major competition issues ".
"In particular, I am concerned that this transaction may reduce the long term of Rite Aid
Get the long-term ability to get low generic prices, "she said.
Leerink analyst David Larsen said in a research report that he was "pleasantly surprised" that the deal was approved without a long review ".
Andre Barlow, an antitrust expert at law firm Doyle, Barlow and Mazard PLLC, noted that Rite Aid is a smaller company
Behind two behemoths.
"Obviously, the smaller chain does not have the same leverage as the larger chain.
But before the acquisition, Rite Aid may not be an effective competitor, which may be a legitimate concern, "he said.
Walgreens said the deal is not expected to have a significant impact on adjusted earnings for the fiscal year ended August. 31, 2018.
Store purchases will begin in October and are expected to be completed in spring 2018.