Privately-held Albertsons Companies is planning to buy the portion of Rite Aid that is not being sold to Walgreens Boots Alliance.
The combined value of Albertsons and Rite Aid, including debt, is around $24 billion. The proposed cash-and-stock deal will give Albertsons shareholders ownership of 71% and Rite Aid stakeholders 29% in the combined company.
Rite Aid owns a benefits management company along with thousands of drug stores and is valued at around $2.3 billion. Albertsons is the owner of supermarket chains such as Safeway and Tom Thumb.
This merger is said to be an effort by both companies to deal with the increasing competition in the retail food space from Amazon and Walmart.
The deal is also expected to position Albertsons to go public. At present, the company is privately-owned by investors including private equity firm Cerberus Capital.
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
