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Analyst take: New Walgreens-Rite Aid deal a ‘good compromise’ if regulators approve it
The news that Walgreens is to scrap its $9.4 billion merger with Rite Aid is unsurprising. The glacial pace of the Federal Trade Commission investigation and increasing signals that the federal government would disallow the merger have forced a rethink.
In some ways, the process so far has been a colossal waste of resources and effort. Walgreens has to pay out a $325 million termination fee to Rite Aid, and all parties — including Fred's, which was due to acquire some Rite Aid stores — have invested time and money with very little to show for it.
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Walgreens partners with LabCorp on in-store lab testing services
DEERFIELD, Ill. — Walgreens and LabCorp on Wednesday announced a collaboration through which LabCorp will develop and operate patient service centers within select Walgreens stores. The centers, which will be co-branded “LabCorp at Walgreens,” will offer LabCorp patient services in a secure, comfortable environment for specimen collection, located near the pharmacy area inside the store.