As mentioned above, Rite Aid is having an overwhelmingly strong day in the market today after announcing that it will be acquired. The integrated company will operate about 4,900 locations, 4,350 pharmacy counters, and 320 clinics across 38 states and Washington, D.C., serving 40 more than million customers per week. Those transfers include 96 stores in Maryland, which, like the other transferred stores, will take on the Walgreens banner over time, said Rite Aid spokeswoman Ashley Flower on Tuesday.
Rite Aid Corporation (RAD) will report its next earnings on Jan 03 AMC.
The Rite Aid merger will allow Albertsons to go public. Walgreens initially proposed buying all of Rite Aid, but was blocked by regulators. The new company will be worth about 24 billion dollar (nearly 20 billion euro) and will have a 83 billion dollar turnover (67 billion euro). Rite Aid brings its own health and wellness brands to the table, including B4Y and Daylogic. A combined name and rebranding will be announced when the transaction closes.
Standley will serve as CEO of the new company while current Albertson's CEO Bob Miller will serve as chairman.
"This combination enables us to become a truly differentiated leader in delivering value, choice, and flexibility to meet customers' evolving food, health, and wellness needs", said Rite Aid Chairman and Chief Executive Officer John Standley in the release. Rite Aid shareholders will own a 28% to 29.6% stake in the company, depending on the results of cash elections, while Albertsons shareholders will own the rest.
Rite Aid is one of the nation's largest drugstore chains with fiscal 2017 annual revenues of $32.8 billion. LLC served as lead financial advisors to Albertsons Companies and Schulte Roth & Zabel LLP acted as legal advisor.
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Postal Service Inspector in charge of the Fort Worth Division said safety of postal employees is of the utmost importance. Postal Service was fatally shot early Monday on a Dallas highway, according to local reports.
Albertsons is a private company, but once the share exchanges are complete, almost 393 million outstanding shares will be traded on the New York Stock Exchange, the news release states. Private-equity investors Cerberus and Kimco Realty Corp and other investor have owned the remaining portion of Albertson ever since.
"As a long-term partner to Albertsons Companies' world-class management team, this transaction highlights Cerberus's confidence in this team and our convictions to the underlying customer focus driving this combination", said Lenard Tessler, Vice Chairman and Senior Managing Director at Cerberus Capitol Management, which is leading of a group of investors backing Albertsons' merge.
Immediately following completion of the merger, Albertsons will have approximately 392.9 million shares outstanding on a pro forma and fully diluted basis.
The new company - which is expected to be traded on the New York Stock Exchange following the close of the deal - also will have an expanded footprint and be ranked first or second in 66% of the top metropolitan areas in the United States and will be ranked first or second in 70% of pharmacy locations.
While looking at the Stock's Performance, Rite Aid Corporation now shows a Weekly Performance of 10%, where Monthly Performance is -4.76%, Quarterly performance is 42.86%, 6 Months performance is -0.9% and yearly performance percentage is -62.96%.
Recall that in April 2014, the sect abducted 276 girls from the Government Secondary School in the town of Chibok in Borno State. The insurgents invaded the school Monday night at about 7pm. "There were no soldiers at the time of the invasion".
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It remained on the market, but for the past two winters federal officials have not been recommending that doctors give it. Some experts at the meeting anxious the panel's decision could further damage public confidence in flu vaccines.
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