In one of the more watched potential mergers by commercial real estate investors, there’s new information on the Walgreen-Rite Aid deal. According to Chain Store Age, the deal may be in its final stages, but not without some hiccups.
Contributor Brian Berk notes that “Walgreens is expected to certify compliance within days”, an action that, according to the New York Post:
[gives] the Federal Trade Commission 90 days to either clear the $9.7 billion deal or sue to block it
The Post went on to explain that the “certified compliance period would expire roughly the same day as the Walgreens-Rite Aid merger agreement terminates on July 31”.
A Rough Road With the FTC Ahead?
Even though the terms of the agreement requires Fred’s Pharmacy to acquire more than 800 Walgreen’s locations, the FTC is not satisfied. The Post says that:
FTC staff has been preparing to sue to block the merger, believing Walgreens divestiture proposal does not do enough to restore competition in areas where Walgreens and Rite Aid are dominant.
Read the full post here.
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