Walgreens scraps Rite Aid deal, to buy some stores instead

Walgreens canceled its deal to buy Rite Aid on Thursday and replaced it with a new agreement. Walgreens will now buy 2,186 stores, three distribution centers and related inventory from Rite Aid, the drugstore chains announced. This deal has been valued at $5.18 billion in cash. Drugstore chain Walgreens Boots Alliance on Thursday called off its deal to buy Rite Aid after struggling to win antitrust approval. Instead, Walgreens will acquire nearly half of the smaller rival's U.S. stores for $5.18 billion in cash, something Walgreens CEO Stefano Pessina told analysts and investors is "more attractive than the transaction it replaces." Notably, Walgreens won't assume any debt from Rite

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