Overcast 37°
Tag:

Merger & Acquisitions

Business
Rite Aid, Albertsons -- With $83 Billion In Revenue -- To Merge Rite Aid, Albertsons -- With $83 Billion In Revenue -- To Merge
Rite Aid, Albertsons -- With $83 Billion In Revenue -- To Merge Supermarket giant Albertsons said Tuesday, Feb. 20 that it plans to buy the remnants of the struggling Rite Aid drugstore chain, according to multiple news reports. But this report by Fortune said Albertsons might be buying a lemon in Rite Aid.  Albertsons is touting a better ability to serve pharmacy customers as one of the merger's potential benefits. But in Rite Aid, Albertsons, a chain which operates grocery stores such as Safeway and Jewel-Osco on top of its namesake, is buying a severely diminished drugstore chain, Fortune reported. Meanwhile, Walmart saw its stock drop by more than…

SHARE

by Jon Craig