Albertsons and Rite Aid Breakup, End Merger

WINSTON-SALEM, N.C. - Aug. 10, 2018 - PRLog -- Albertsons and Rite Aid Breakup, End Merger

Albertsons has called off its $24 billion merger with Rite Aid. The company had previously announced its merger of the supermarket and drug store chain in February and the transaction was expected to close in late 2018.

"While we believed in the merits of the combination with Albertsons, we have heard the views expressed by our stockholders and are committed to moving forward and executing our strategic plan as a standalone company," said Rite Aid Chairman and Chief Executive Officer John Standley.

Though there was opposition from certain investors and advisors, both companies said they mutually decided to end the agreement.

According to a press release, under the terms of the merger agreement, Albertsons and Rite Aid will both not be held responsible for any pay result of the termination of the merger agreement.

The company also announced that its board of directors are evaluating governance changes at the company. As it considers these changes, Rite Aid will continue to engage with stockholders to ensure alignment between the company and its investors.

Under the previous deal, the companies combined would have operated… to read the complete story, click on this link https://abasto.com/en/news/albertsons-rite-aid-end-merger/