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RAD

Rite Aid

$8.47

-0.14 (-1.63%)

, WBA

Walgreens Boots Alliance

$85.85

-0.43 (-0.50%)

07:04
12/22/16
12/22
07:04
12/22/16
07:04

Rite Aid says Walgreens actively engaged in discussions with FTC

As announced on Dec. 20, Walgreens Boots Alliance (WBA) and Rite Aid (RAD) have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred's, Inc. (FRED) for $950M in an all-cash transaction. The transaction is subject to Federal Trade Commission approval of the sale of the stores to Fred's, FTC approval and completion of the pending acquisition of Rite Aid by WBA and other customary closing conditions. The agreement was entered into to respond to concerns identified by the FTC in its review of the proposed acquisition of Rite Aid by WBA which was announced in October 2015. While WBA is actively engaged in discussions with the FTC regarding the transaction and is working toward a close of the Rite Aid acquisition in early calendar 2017, there can be no assurance that the requisite regulatory approvals will be obtained, or that the transactions will be completed within the required time period.

RAD

Rite Aid

$8.47

-0.14 (-1.63%)

WBA

Walgreens Boots Alliance

$85.85

-0.43 (-0.50%)

  • 05

    Jan

RAD Rite Aid
$8.47

-0.14 (-1.63%)

11/08/16
LEER
11/08/16
NO CHANGE
Target $90
LEER
Outperform
Walgreens Boots Alliance price target lowered to $90 from $95 at Leerink
Leerink analyst David Larsen lowered his price target for Walgreens Boots Alliance (WBA) to $90 from $95, noting that he is negatively surprised that Rite Aid (RAD) is expected to add just 5c-12c to 2017 EPS, and also somewhat concerned that 2017 is expected to be a back-half loaded year. Furthermore, the analyst is slightly more cautious on Rite Aid deal's odds, but sees about 65% chance of it closing. Larsen reiterates an Outperform rating on Walgreens Boots Alliance's shares.
11/09/16
DBAB
11/09/16
NO CHANGE
Target $88
DBAB
Buy
Deutsche still expects Walgreens, Rite Aid deal to close
After speaking to private equity executives, Deutsche Bank analyst George Hill continues to expect Walgreens Boots Alliance's acquisition of Rite Aid (RAD) to be completed. The analyst says the conversations support his belief that most of the divested stores will go to strategic buyers, which he thinks is the FTC preference. Hill has a Buy rating on Walgreens with an $88 price target.
11/15/16
LEER
11/15/16
NO CHANGE
Target $85
LEER
Outperform
CVS Health price target lowered to $85 from $105 at Leerink
Leerink analyst David Larsen lowered his price target for CVS Health (CVS) to $85 from $105 as he is incrementally more cautious on the company. Conversely, the analyst is incrementally more positive on Walgreens Boots Alliance (WBA) and believes its deal with Rite Aid (RAD) deal is more likely to go through with Trump as President. Nonetheless, Larsen believes that 2017 is largely a re-set year for CVS Health, and expects the business to return to more robust growth in 2018 and beyond. He reiterates an Outperform rating on CVS Health's shares.
12/20/16
EVER
12/20/16
NO CHANGE
EVER
Cardinal Health likely to benefit from Fred's asset acquisition, says Evercore ISI
Evercore ISI analyst Ross Muken said Cardinal Health (CAH) is likely to benefit from Fred's (FRED) acquisition of 865 stores from Walgreens Boots (WAG)/Rite Aid (RAD) as it is Fred's current distributor.
WBA Walgreens Boots Alliance
$85.85

-0.43 (-0.50%)

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