The Albertsons Cos. and Rite Aid Corp. have revealed an agreement under which the privately held grocer will merge with the publicly traded drug store chain. Amazon made a push into the food business by buying the upscale grocery chain Whole Foods for $13.4 billion past year.
Albertsons would add new locations and size, amid increasing pressure from online competitors.
The combined Albertsons and Rite Aid company, which will be renamed according to the Wall Street Journal, will operate around 4,900 stores and 4,300 pharmacies, along with 320 clinics.
The S&P index for drug retail has fallen 11% in the past year, and the big 3 pharmacies are all scrambling to keep their footholds: In addition to Walgreens' purchase of 2k Rite Aid stores, CVS has a $69B purchase of healthcare company Aetna now under regulatory review.
Retailers have been pushing home deliveries and other customer-friendly services in the wake of expanded competition from Amazon.
Albertsons' latest business proposal means your local Rite Aid will eventually see a new name and re-branding. Giant retailers including Bentonville, Ariz. -based Walmart Inc. are also looking to play a bigger role.
The result has been consolidation. Immediately following completion of the merger and assuming that all Rite Aid shareholders elect to receive shares plus cash, Albertsons Cos. will have approximately 392.9 million shares outstanding on a pro forma and fully diluted basis. After it closes, Albertsons shareholders will own 70.4 percent to 72 percent of the business, the companies said. The companies say they will keep headquarters in both Boise and Camp Hill, Pennsylvania, which is where Rite Aid is based. The merger is expected to close early in the second half of calendar year 2018, subject to the approval of Rite Aid's shareholders, regulatory approvals and other customary closing conditions.
Miller would serve as chairman of the combined company, and John Standley, the Rite Aid chairman and chief executive officer, would remain as CEO.
AT&T to operate 5G testing lab in Austin
However, the network operator did not offer any details on where exactly its mobile 5G services will be available first and when. AT&T will launch its first mobile device for 5G - a mobile, battery-powered Wi-Fi hotspot - in late 2018, Mansfield said.
The deal also comes after Rite Aid's failed attempt to sell itself to Walgreens. That merger fell apart amid scrutiny by United States antitrust authorities. The combination of Albertsons Companies' billion dollar own brands, including O Organics and Lucerne®, and its manufacturing and operating capabilities, with Rite Aid's own brands in health and wellness, including B4Y™ and Daylogic™, and its pharmacy expertise will allow the combined company to drive growth opportunities and efficiencies across its purchasing, marketing, manufacturing, and merchandising functions.
Albertsons has been backed by private equity firm Cerberus Capital Management. Its same-store pharmacy sales have been slumping for more than a year, while those of CVS and Walgreens have been stronger.
The executives of those companies offered few details about the project, which they said is in its early stages, but they said in a press release the companies would focus "on technology solutions that will provide [their] USA employees and their families with simplified, high-quality and transparent health care at a reasonable cost", as well as creating a solution "free from profit-making incentives".
"We are keeping (the stores) informed at every step as this transition occurs so we can work together to make sure the transition (is) as smooth for all concerned, team members and customers alike", Graham wrote in an email.
Three Billboards Outside Ebbing emerges the victor at BAFTA
With his film winning five awards in all at these precursor prizes, the actor was in a buoyant mood backstage for our interview. He said: "I think it's important to represent this movement and try to listen if people are trying to be heard".
Kroos is nursing a knee injury sustained after the first leg against PSG but is expected to return in time for the return. He was forced off, however, during the 5-3 win at Real Betis in La Liga on Sunday with the hamstring problem.
The Norwegian athlete is the most decorated Winter Olympian (14 medals). "It's time to start dropping people", Diggins said. Bill Koch, who won a silver medal at the 1976 Innsbruck Games, is the only other American to medal in the event.
Now they switch their focus to a Champions League last-16 tie against La Liga giants Barcelona on Tuesday. It was an easy route to the quarter-finals for Chelsea as they smashed Hull City 4-0 at Stamford Bridge.
Olympic skater Adam Rippon has turned down NBC's offer to be an on-air commentator for the network's Olympics coverage. Rippon's mother, Kelly Rippon, told CNN she objected to the vice president calling the story "fake news".
The new role would likely mean she will give up the Saarland premiership she has held since 2011, according to DPA news agency. The hard-fought coalition deal struck with Social Democrats must still be approved by the SPD's 460,000 members.
School children walk as Mount Sinabung erupts in Karo, North Sumatra, Indonesia, Monday, Feb. 19, 2018. Interestingly, Mount Sinabung had been inactive for four centuries before the 2010 volcanic eruption.
Bill payments are easily set up by searching for the company you owe and then entering the number associated with your account. The company has now partnered with 80 billers in India of various services and allows its users to pay their utility bills.
Each expert who took the poll was asked to rate each president on a 0-100 scale, with 0 meaning failure and 100 meaning greatness. This ranking placed Trump beneath perennial basement dwellers such as James Buchanan , Franklin Pierce , and Warren Harding .
Abbott ordered all Texas flags to be lowered to half-staff when Graham is buried, which is to be determined by the Graham family. Former President Jimmy Carter credited Graham with having an "enormous influence" on his spiritual life.
Jung oversaw moves to introduce new laws that were meant to eradicate cryptocurrency speculation and other illicit activity. Ethereum and ripple - the number 2 and 3 cryptocurrencies respectively - also rose, trading 1-2 percent higher.
City still dominated despite being a man light as Wigan enjoyed just 17 per cent possession and four shots compared to City's 29. Football is emotional, it is what it does to fans, but I don't like to see this at the end of the game.
Do not test our resolve, Israel warns Iran
Tensions between Iran and Israel have escalated recently, with the ongoing Syrian war spilling over into a wider proxy fight. In his speech, Zarif dismissed Netanyahu's presentation as a " cartoonish circus , which does not even deserve a response ".
Abbas calls for multilateral peace efforts
In December, the General Assembly voted 128-9, with 35 abstentions, to reject the USA decision to recognize Jerusalem. Top Palestinian officials condemned the move, saying it disqualified the USA from playing the role of arbiter.
China demands 'severe punishment' for warrior statue thumb thief
The statue is one of 10 on loan to the Franklin Institute, from among 8,000 life-size warriors that make up the Terracotta Army. Franklin Institute spokeswoman Stefanie Santo told the Philadelphia Inquirer that the warrior and its thumb will be repaired .