Walgreens Boots Alliance and Rite Aid Corp. have
issued a joint announcement stating that the two companies have mutually agreed
to extend their merger agreement end date to Jan. 27.
The original end
date of the agreement was Oct. 27. Both companies are now saying that
the transaction will be finalized in early 2017.
Walgreens Boots Alliance agreed to purchase all outstanding
Rite Aid share on Oct. 27, 2015, for the price of $9 per share in cash.
According to the merger agreement, either company has the right to extend the
end date of the merger by delivery of notice to the other to Jan. 27, 2017.
Both parties have mutually exercised that right.
Walgreens, Rite Aid push back merger date
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