Walgreens Boots Alliance and Rite Aid Announce Extension of Merger Agreement End Date
Walgreens Boots Alliance, Inc. and Rite Aid Corporation have announced that they have mutually agreed to extend the end date of their merger agreement from 27 October 2016 to 27 January 2017.
Deerfield, Ill. and Camp Hill, Pa., 20 October 2016 - Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and Rite Aid Corporation (NYSE: RAD) today announced that, in accordance with the terms of their merger agreement dated 27 October 2015, they have mutually agreed to extend the end date of their merger agreement from 27 October 2016 to 27 January 2017. The companies now expect the transaction will close in early calendar 2017.
On 27 October 2015, the companies entered into a definitive agreement under which Walgreens Boots Alliance agreed to acquire all outstanding shares of Rite Aid for $9.00 per share in cash. Under the terms of the merger agreement, either party has the right to extend the end date from 27 October 2016 to 27 January 2017 by delivery of notice to the other.