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| And the banner above the Rite Aid sign says, "Welcome Longs Customers, transfer your prescriptions today." |
DNS/Drugstore news/Michael Johnsen, 10/30/15. "WBA to divest as many as 1,000 stores to secure Rite Aid deal approval."
"DEERFIELD, Ill. - The merger agreement between Walgreens Boots Alliance
and Rite Aid must be consummated by Oct. 27, 2016, or the deal is off,
according to documents filed to the Securities and Exchange Commission
on Thursday. That deadline could be extended to Jan. 27, 2017 under some
circumstances, according to the document.
If Rite Aid walks away from the deal at any time, Rite Aid will forfeit
a $325 million termination fee to Walgreens. Rite Aid may also be
required to pay up to an additional $45 million to cover expenses
incurred by Walgreens.
Conversely, Walgreens will forfeit $325 million to Rite Aid if it's not
able to secure regulatory approval of the deal, a figure that could
double to $650 million if Walgreens "enters into, consummates or
announces certain acquisitions within eight to 12 months of the date of
the merger agreement [with Rite Aid]." Read more.
Note photograph by M.C. from Yelp.
Posted by Kathy Meeh
2 comments:
The ice cream counters inside our Fairmont and Linda Mar Rite Aide's bear the "Thrifty Ice Cream" badge, the last vestige of the old Thrifty / Payless Drugstore Chains, which Rite Aid took over.
This delicious ice cream long ago was bought wholesale for use by the Farrell's Ice Cream chain. Any flavor hand scooped into waffle cones is how I like it. It looks like it's inevitable that the brand and ice cream counter will go away from Pacifica forever.
I remember when Linda Mar Thrifty Store opened in 1976 after the closing of W.T Grant's Store the price for a single, double, triple scoop ice cream cone .05-.10-.15 U.S. Cents. Why don't they just all go over to CVS Pharmacies.
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