US: Walgreens To Offload More Assets To Gain Approval For Rite Aid Deal?

Walgreens Boots Alliance is reportedly set to offer to dispose of more assets, as it looks to gain regulatory approval for the acquisition of the Rite Aid banner.

According to a report by Bloomberg News, Walgreens is reportedly close to a new agreement with Fred’s Inc, which will see the former sell off more stores as well as distribution centres, software, and personnel.  Fred’s would also reportedly get the rights to the Rite Aid brand name for longer than the 24-month period outlined in the original deal.

The existing deal between the two sides will see Fred’s acquire 865 stores from Walgreens and Rite Aid. The report, which cited an unnamed source, said WBA could present the new deal to the Federal Trade Commission within weeks, in the hope of pushing through the merger.

Neither of the sides have commented on the report.