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
HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,
After positive Q4, Advanced Micro Devices (AMD) looks at a mixed 2023
Advanced Micro Devices, Inc. (NASDAQ: AMD) this week issued a cautious outlook for the first quarter of 2023, after reporting stronger-than-expected fourth-quarter results. The chipmaker did not provide full-year guidance,
META Earnings: All you need to know about Meta Platforms’ Q4 2022 earnings results
Meta Platforms, Inc. (NASDAQ: META) reported fourth quarter 2022 earnings results today. Revenue declined 4% year-over-year to $32.17 billion. Net income fell 55% to $4.6 billion while EPS dropped 52%