Content area
Full Text
Walgreens Boots Alliance and Rite Aid Corp. said Tuesday that they have agreed to sell 865 Rite Aid stores to Fred's Inc. in order to satisfy antitrust concerns in their pending merger.
The deal, for $950 million in cash, is subject to approval by the Federal Trade Commission and finalization of Walgreens' acquisition of Rite Aid, expected early next year.
The proposed deal would more than double the size of Fred's, a discount variety chain based in Memphis which it said would become the nation's No. 3 drug chain upon completion of the deal....