Reports: Walgreens Boots Alliance to acquire Rite Aid

DEERFIELD, Ill. — Walgreens Boots Alliance is in advanced talks to acquire Rite Aid in a deal that could be worth as much as $10 billion, according to a report published Tuesday by The Wall Street Journal. 

 

Earlier Tuesday morning, trading in Rite Aid had halted briefly pending a significant corporate news announcement, but not before Rite Aid shares were up almost 40% to $8.34. Walgreens Boots Alliance shares were similarly up almost 5% to $94.31.

 

The deal would bring together the No. 1 and No. 3 retail pharmacy operations under one roof, creating a pureplay pharmacy operator with more than 12,786 stores and more than $67.1 billion in pharmacy revenue, according to figures from DSN's Annual PoweRx Industry Rankings. 

 

Both operations have been working toward becoming comprehensive retail healthcare providers, making investments in cutting-edge retail health services including telehealth pilots.