Exterior of Rite Aid store A Rite Aid store in Buffalo, NY. (Photo: Wierzba Masonry)

DEERFIELD, IL—Published reports Monday suggested that Walgreens Boots Alliance might be able to pull off its scuttled merger with Rite Aid Corp. after all. However, the two drugstore chains announced Tuesday that they’d received Federal Trade Commission approval for an amended purchase agreement building on the one that emerged after the M&A deal collapsed in late June. WBA accordingly will go ahead and acquire 1,932 Rite Aid locations and three distribution centers for $4.375 billion in cash and other consideration.

The scope of the acquisition is smaller than the agreement announced in June for WBA to buy 2,186 Rite Aid stores for $5.175 billion. The amended agreement also calls for WBA to assume the leases on the stores it’s buying from Camp Hill, PA-based Rite Aid, and gives Rite Aid an option to purchase generic drugs at a lower cost through Walgreens Boots Alliance Development GmbH, WBA’s group purchasing organization.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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