Merger decision expected soon, Rite Aid tells associates

CAMP HILL, Pa. — In a letter to associates earlier this week, Rite Aid chairman and CEO John Standley, along with Ken Martindale, CEO Rite Aid Stores and president Rite Aid, informed Rite Aid's rank and file that a decision regarding Walgreens Boots Alliance proposed acquisition of Rite Aid is expected soon.



"We greatly appreciate the dedication you’ve displayed during this time and your tremendous efforts to serve our customers and support our fellow Rite Aid associates," Standley noted. "We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval and there can be no guarantee that the merger will be approved. However, we expect a decision sometime soon."



While the delay in merger approval has negatively impacted Rite Aid results, Standley acknowledged, the company is working toward improving performance. "Our Rite Aid team has worked hard over the past few years to develop a robust health and wellness platform that is both strong and unique in the retail drug store space," he noted. "We will continue to build from this strong foundation as we also focus on operational efficiency, investing in growth opportunities and delivering a consistently outstanding experience to our customers and patients."



Rite Aid will post first-quarter fiscal 2018 results on the morning of June 29, which incidentally is the same day Walgreens Boots Alliance will be posting that company's third quarter results for fiscal 2017.