A $17.2 billion acquisition merges pharmacy giants Walgreens and Rite Aid for a combined total of more than 12,000 stores nationwide. This is the third major acquisition for Walgreens, which in 2010 acquired New York’s Duane Read and in 2014 European chain Boots Alliance. Although Rite Aid stores will be keeping their names for the time being, Walgreens plans on creating “a fully harmonized portfolio of stores.” The deal will still have to pass anti-trust review.
