Walgreens Gives Up on Rite Aid Deal, Will Buy Stores Instead

Walgreens decided to cancel its deal with Rite Aid and instead plans on buying a smaller piece of the drugstore chain. This new plan is being made in hopes of simplifying a much more complicated deal.

“If Walgreens only buys the ones where the FTC saw no competitive problems, then the FTC should have no reason to object,” said Antitrust attorney David Kully. “It seems kind of an ingenious solution to this.”