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Fly News Breaks for January 20, 2017
WBA, RAD
Jan 20, 2017 | 11:32 EDT
Evercore ISI analyst Ross Muken believes Rite Aid (RAD) could have "massive" downside and would likely trade to $3.50 or below if the acquisition by Walgreens Boots Alliance (WBA) were not completed. For Walgreens, Muken said, if the deal is not completed, it would be a modest negative given the synergy potential and time committed to deal closure, but he expects Walgreen not to sit on the capital for very long and would look for a combination of share repurchases and additional M&A in the not-too-distant future.
News For RAD;WBA From the Last 2 Days
