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Rite Aid (RAD) Stock

Rite Aid (RAD) Stockā€

The new, combined company will be renamed and operate more than 4,000 pharmacies (in store and standalone) and 320 clinics across 38 states and Washington, D.C. Excluding one-time items, the company earned $1.33 per share, rising $0.03 from the year-ago quarter but missing analyst projections by $0.04 per share. CVS Health said in December that it would merge with Aetna, the health insurer, in a $69 billion deal that could potentially reshape the way health care is delivered in the United States.

Upon the deal's closing, Albertsons-Rite Aid will have approximately 4,900 locations (with 4,300 of them including pharmacy counters).

At the end of the third quarter, Rite Aid had about 4,400 locations after transferring a small number of stores to Walgreens.

The takeover serves several purposes which includes, Rite Aid will get a buyer after a failed merger with another chain in previous year. Stores bought from Rite Aid will be brought under the Walgreens brand in phases over three years, he said. In all, 1,114 stores had been transferred as of February 8, Rite Aid said in a recent investor announcement. Cerberus and a consortium of investors helped to form Albertsons in 2006.

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The Albertsons group is known for its eponymous supermarket chain, but also own another nineteen store chains, including Safeway.

Common shareholders want to know how profitable their capital is in the businesses they invest it in. As competition heats up with e-retailers such as Amazon, store experiences become more important. It had reportedly made a competing bid for Whole Foods, and tried to acquire Sprouts Farmers Market, as well.

Federal approval is still forthcoming, but if successful, the merger will create a company with over $82B in annual revenue and open the door for Albertsons to attempt an IPO again (they came close in 2015 but pulled the plug amidst "skittish" market conditions for retailers). That deal could turn numerous chain's 9,800 stores into one-stop-shop locations for an array of health care needs like blood work and eye or hearing care in addition to their traditional role of filling prescriptions. That deal, valued at over $4.38 billion and signed previous year, is a little over halfway done, with Walgreens now in possession of over 1,100 former Rite Aid locations.

Rite-Aid has always been the second largest drug chain in DE but has seen growing competition from CVS. CVS and Walgreens struggled on that front too, but at least their pharmacy businesses are thriving. Following the close of the transaction and the share exchange, Albertsons Cos.' shares are expected to trade on the New York Stock Exchange.

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Albertsons, which did not disclose the deal's value, is offering either a share of its stock and $1.83 in cash or slightly more than a share for every 10 shares of Rite Aid.

Shareholders of Rite Aid will own up to 29.6 percent of the new company while shareholders of Albertsons will own up to 72.6 percent of the new company. Albertsons CEO Bob Miller will become chairman.

As for Rite Aid stores that will become a part of Albertsons, Flower said customers can now expect the store to continue normal business operations.

The combined company is expected to include leadership from both companies and maintain dual headquarters, in Boise, Idaho, and Camp Hill, Pa.

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