Albertsons to buy Rite Aid

21 February, 2018, 03:07 | Author: Terri Saunders
  • A woman pushes a cart of groceries to her car outside an Albertson's store in Denver Colorado

The new company will have approximately 4,900 locations, 4,350 pharmacies, and 320 clinics in 38 states and Washington D.C.

"We continue to grow to compete with all competitors, not just Amazon". Under the cash-and-stock deal, Albertsons investors will own around 71% of the company's stock, while Rite Aid shareholders will own the rest.

Amazon is also seeking to upend the health care field. That deal came together after a federal judge blocked Aetna's proposed merger with rival Humana a year ago.

Rite Aid has 21 stores in the state, according to its website. The companies settled on the smaller deal instead.

Under the terms of the agreement, in exchange for every 10 shares of Rite Aid common stock, Rite Aid shareholders will have the right to elect to receive either one share of Albertsons common stock plus approximately $1.83 in cash or 1.079 shares of Albertsons stock. The Albertsons pharmacies will be rebranded under the Rite Aid name. The companies say the deal should close in the second half of this year, but regulators and Rite Aid shareholders still have to approve it.

Control Volkswagen's latest concept auto with your voice
The company affirms to introduce 20 electric auto models by 2025 and will start putting its I.D. models into production by 2020. Volkswagen has big plans for its future electric vehicle range - by 2025, the automaker aims to launch over 25 EVs.

Standley said: "This powerful combination enables us to become a truly differentiated leader in delivering value, choice, and flexibility to meet customers' evolving food, health, and wellness needs".

Standley will serve as CEO of the new company while current Albertson's CEO Bob Miller will serve as chairman. Identified revenue opportunities primarily include partnering with payors, including Rite Aid's PBM, EnvisionRx, through preferred networks to drive additional high-value customers, connecting Rite Aid's reliable pharmacy customer base to Albertsons Companies through loyalty programs and targeted marketing, leveraging Albertsons Companies' grocery capabilities and Rite Aid's pharmacy expertise to enhance the customer offering, and driving traffic through the omni-channel experience.

Albertsons, which is backed by private equity firm New York City-based Cerberus Capital Management LP, previous year put plans for an initial public offering on hold after Amazon acquired Austin, Texas-based Whole Foods Market Inc., according to people familiar with the situation. It later merged the business with Safeway, creating a grocery chain of 2,230 stores and 250,000 employees across the U.S.

Rite Aid Corporation (NYSE:RAD) yearly performance is -63.71% and net profit margin is 0.40%. It also invested in El Rancho Supermercado, a Texas retailer focused on stores for Latino customers, last year. It had a 2015 bid shelved, and was said to be making another run at an IPO until Amazon acquired Whole Foods for $13.7 billion. The market value of Rite Aid is approximately $2.3 billion and is now selling a large chunk of its locations to Walgreens.


  • JD Martinez Signs With The Boston Red Sox

    JD Martinez Signs With The Boston Red Sox

    The Pittsburgh Pirates acquired outfielder Bryce Brentz from the Boston Red Sox today in exchange for cash considerations. On top of lacking good speed (considering he's an outfielder), Martinez had a very high 26.2 strikeout rate past year .
    Netanyahu's Associates Named In Telecom Corruption Probe

    Netanyahu's Associates Named In Telecom Corruption Probe

    Journalists from the Walla news site have indicated they were coerced to refrain from negative coverage of Netanyahu . Also Tuesday night, Netanyahu released a video on his Facebook page in which he firmly denied any wrongdoing.
    National Basketball Association  all-star dunk contest primer: Will rookies steal the show?

    National Basketball Association all-star dunk contest primer: Will rookies steal the show?

    Mitchell and Nance Jr . advanced to the championship round after tallying 98 (48,50) and 93 (44,49) points respectively. Booker beat 2016 champion Klay Thompson of the Golden State Warriors and Tobias Harris of the Los Angeles Clippers.
  • Padres Optimistic In Pursuit Of Eric Hosmer

    Padres Optimistic In Pursuit Of Eric Hosmer

    In the end, the Padres were willing to go with eight years, and that was enough to persuade Hosmer to head to San Diego. The 28-year-old Hosmer batted a career-high.318 in 2017 and matched his best from the previous season with 25 home runs.
    Watson revitalised after 10th PGA Tour win

    Watson revitalised after 10th PGA Tour win

    More incredible was the fact that the ball went in at all given how Watson's bunker play had been pretty bad thus far in 2017-'18. I have a auto dealership, a candy shop (Bubba's Sweet Spot on Palafox) and a baseball team, so we would have had something to do.
    First flu-related death of a child confirmed in Harris County

    First flu-related death of a child confirmed in Harris County

    Health officials encourage parents to have their children vaccinated, especially those between six months and eight years of age. The flu season - already one of the deadliest in decades - continues to sicken and kill people across the state and nation.
  • 'Dozens' of Russians hurt in Syria attack, says ministry

    'Dozens' of Russians hurt in Syria attack, says ministry

    But I doubt that 250 to 300 people, all just excited on their individual self, suddenly crossed the river in enemy territory, started shelling a location and maneuvering tanks against it.

    Sevilla vs Manchester United

    He may not have wanted there to be one, either, while how far the morning session had been staged may have been a legitimate question too.
    'Black Panther' brings in a record-breaking box office weekend

    'Black Panther' brings in a record-breaking box office weekend

    For a country never before seen on screen, Wakanda's rich cultural traditions and history are clear and interesting . As for her, she plans to see the film a few more times at least, especially since she used to live near the family.
  • Crude Oil Price Forecast February 20, 2018, Technical Analysis

    Crude Oil Price Forecast February 20, 2018, Technical Analysis

    Brent is trading at a premium of less than $3 a barrel to WTI CL-LCO1=R, down from over $$7 at the start of the year. Gold shed 0.3 percent to 1,342.07, while gold futures for the April contract fell by 0.8 percent to $1,344.60.
    Measles cases jump by 400% in Europe

    Measles cases jump by 400% in Europe

    Cases were highest in Romania, Italy and Ukraine, with 15 countries, including the United Kingdom , experiencing large outbreaks. Measles is a highly infectious viral illness that can be very unpleasant and sometimes lead to serious complications.
    Samsung slashes OLED production

    Samsung slashes OLED production

    Samsung's Infinity Display has been one of the major selling points for the flagship Galaxy smartphones in the a year ago . Frustrating the situation for Samsung may well be Apple's attempts to divide its supplier dependencies.


US, Canada back in women's hockey final
With USA's victory at least somewhere in the back of their minds, Canada didn't even need two minutes to strike against OAR. Russian goalie Valeria Tarakanova stopped 27-of-31 shots before being replaced by Nadezhda Alexandrova in the third period.

Korea's Yun Sung-bin slides to gold in men's skeleton
Bach said the two Koreas' joint march in the opening ceremony delivered a very strong message of Olympic values to the world. Yun gave the host country their second gold of the Games finishing ahead of Nikita Tregubov from Russian Federation .

Donald Trump denies forcibly kissing woman in 2006
Rachel Crooks speaks during the press conference held by women accusing Trump of sexual harassment in New York City Dec. 11, 2017. Ms Crooks told the Post that Mr Trump was only the second man to ever kiss her at the time of the alleged incident.

Look! SpaceX's Falcon Heavy Can Go Mining On Asteroids
Coming to Wednesday's launch, SpaceX will use a previously flown first stage booster for its Falcon 9 rocket. On Wednesday, the Falcon 9's payload fairing will be the PAZ satellite.

Abbas to seek wider peace process in United Nations speech
Mr Kushner is already working on a new proposal for peace although few details have emerged. Haley's speech followed addresses from Israeli Ambassador to the U.N.

Oxfam executives 'deliberately misled' regulators and 'betrayed public' over Haiti sex scandal
These are pretty vulnerable women and girls, looking for Oxfam to get them through this bad situation. He admitted, however, that this did not mean no women under the age of 18 were involved.

Lawyer admits he lied to investigators working for special counsel Mueller
Some are theorizing that Van Der Zwaan either knows far more than he's telling, or he's a means to an end to snag the oligarch. The charges say Van Der Zwaan denied talking with Gates and "Person A" but he had surreptitiously recorded the call.

Justin Theroux cancels Stephen Colbert appearance after split
The public's constant scrutiny over her love life "played a huge role in her marriage to Justin", the source explained. The statement continued, "This decision was mutual and lovingly made at the end of past year ". "She has seemed fine".

Political scientists rank Trump last, Lincoln first in presidential greatness survey
Grant also got a bump, up seven places from 2014, perhaps owing to a strong assist from Ron Chernow's recent masterpiece . Roosevelt at No. 3, rankings that are unchanged from the last time this exercise was conducted, in 2014.

Florida school shooter 'could plead guilty to avoid the death penalty'
In a public post on his Instagram page, Cruz showed what he called an "arsenal" on a bed - seven guns and body armor. An anonymous person called the FBI's Public Access Line, located in Clarksburg, W.Va., to warn about Cruz.