Walgreens Boots Alliance and Rite Aid Certify Substantial Compliance with Second Request
Walgreens Boots Alliance and Rite Aid Corporation have certified substantial compliance with the Request for Additional Information from the United States Federal Trade Commission regarding their merger agreement
Deerfield, Ill. and Camp Hill, Pa., 8 May 2017 - Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and Rite Aid Corporation (NYSE: RAD) today announced that they have certified substantial compliance with the Request for Additional Information (the "Second Request") from the United States Federal Trade Commission (FTC) regarding their merger agreement under which Walgreens Boots Alliance proposes to acquire all outstanding shares of Rite Aid.
In January 2016, Walgreens Boots Alliance and Rite Aid entered into a timing agreement with the FTC pursuant to which the two companies have agreed not to close the proposed merger until at least 60 full calendar days after both companies have certified substantial compliance with the Second Request. The transaction remains subject to the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, approval by the holders of Rite Aid's common stock and other closing conditions, and there can be no assurance that these conditions to closing will be satisfied.
"We are pleased to have certified completion of our submission of documents and information to the FTC in connection with the Second Request," said Stefano Pessina, executive vice chairman and chief executive officer of Walgreens Boots Alliance. "We will continue to work closely with the FTC regarding the pending transaction."
"Our teams did a tremendous amount of work to deliver to the FTC the information to substantially comply with the Second Request," said Rite Aid Chairman and CEO John Standley.