• Term Sheet - Thursday, August 9

    2 monthes ago - By Fortune

    NO DEAL Good morning, Term Sheet readers.
    Rite Aid and Albertsons have agreed to terminate their merger agreement.
    Rite Aid CEO John Standley said that the pharmacy chain had been unable to convince shareholders of the merits to the merger. Grocery giant Albertsons, meanwhile, issued a statement saying it disagreed with Rite Aid stockholders' concerns that the deal would undervalue the chain and that it refused to change the financial terms of the deal.
    If the deal had gone through, Rite Aid shareholders would have owned some 30% of the combined companies.
    The merger was supposed to be...
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  • Rite Aid, Albertsons call off merger deal ahead of vote

    2 monthes ago - By Chron

    Rite Aid and the grocer Albertsons called off an agreement to become a single company with the deal facing shaky prospects in a shareholder vote.
    The owner of Safeway and other grocery brands had announced in February plans to buy Rite Aid's more than 2,500 stores with the goal of becoming "a leader in food, health and wellness." But a major shareholder and two proxy advisory firms came out against the deal.
    Rite Aid Chairman and CEO John Standley said in a prepared statement late Wednesday that after hearing the views of shareholders, the drugstore chain is "committed to moving forward...
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  • Morning News: August 9, 2018

    2 monthes ago - By Crossing Wall Street

    Russia Blasts New U.S. Sanctions Plan as Ruble, Stocks Slide
    How China Wins the Trade War
    Rite Aid and Albertsons Agree to Terminate Their Merger Agreement
    Tribune Terminates $3.9 Billion Sinclair Merger, Sues Broadcast Rival
    Mazda, Suzuki, Yamaha Motor Cheated on Fuel Economy, Emissions Testing: Japan Government
    Tesla's Biggest Problem Is Busy Tweeting
    Never Mind Tesla, BMW's the Real Deal for a Buyout
    Playing Catch-Up With Walmart, Amazon Offers Digital Grocery Pickup at Whole Foods
    New York City Votes to Cap Uber, Lyft Vehicle Licenses
    Bearded Millennials are Causing a Crisis in the...
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  • The Rite Aid and Albertsons Merger Is Officially Off-Here's Why

    2 monthes ago - By Fortune

    On Wednesday, hopes for a merger between Rite Aid and Albertsons were dashed, when the companies announced that the deal was off.
    In a statement, Rite Aid Chief Executive John Standley said that the pharmacy chain had been unable to convince shareholders of the merits to the merger. Grocery giant Albertsons, meanwhile, issued a statement saying it disagreed with Rite Aid stockholders' concerns that the deal would undervalue the chain and that it had refused to change the terms of the deal.
    If the collaborative effort had gone ahead, Rite Aid shareholders would have owned some 30% of the...
    Read more ...