Rite Aid sends letter to shareholders on proposed Albertsons merger
Rite Aid announced that it has issued a letter to shareholders in connection with its proposed merger with Albertsons. The letter details the merits of the proposed merger with Albertsons and highlights the company's recommendation that shareholders vote "FOR" the transaction. The letter says, "Dear Fellow Rite Aid Shareholder: Rite Aid will hold a Special Meeting of Stockholders on August 9, 2018 to vote on the proposed merger with Albertsons Companies ("Albertsons"). We ask for your support by voting your shares FOR the merger to accelerate Rite Aid's strategic and financial transformation and to realize the significant value we anticipate through ownership in a stronger, better-positioned company. As the retail healthcare landscape continues to evolve, we have taken critical steps to improve Rite Aid's competitive position through our innovative Wellness store format, enhanced customer loyalty program and expanded health and wellness offerings. We have also had robust discussions over the past several years, including with an extensive list of third parties, around a range of strategic options and considered Rite Aid's strategic position as an independent enterprise. Our work has led us to conclude that the merger with Albertsons is the best way to achieve our key strategic priorities of growing front-end sales, serving as a trusted advisor to our pharmacy customers, building a winning value proposition for payors and providers, and delivering compelling long-term value to our shareholders. Based on the growth and value creation opportunities presented by the proposed combination with Albertsons, we are confident that the merger represents the right combination, with the right partner, at the right time."