2.09 0.00 (0.00%)
After hours: 7:58PM EST
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||2.08 - 2.13|
|52-week range||1.38 - 6.04|
|PE ratio (TTM)||14.12|
|Earnings date||20 Sep 2017 - 25 Sep 2017|
|Forward dividend & yield||0.00 (0.00%)|
|1y target est||2.08|
The grocery and drug store industries are about to witness further consolidation with grocer Albertsons Companies proposing to buy the distressed drugstore retailer, Rite Aid Corporation (RAD).
The value of Rite Aid's pharmacy benefit manager, EnvisionRxOptions, could take off under the umbrella of the large grocery store chain Albertsons.
Cerberus Capital, which owns Albertsons (2,200 stores, including 1,300 Safeway supermarkets) has made a move to merge with Rite Aid, Merger being the operative word, because the biggest attraction for privately held Cerberus is that Rite Aid is listed (as RAD) on the New York Stock Exchange.
At the same time, Amazon's foray is widely expected to disrupt the industry, prompting drug chains to beef up their businesses. Backed by private equity firm Cerberus Capital Management, Albertsons hopes the deal will help it become a formidable competitor to CVS Corp (CVS.N) and Walgreens (WBA.O), and give its private equity owners a way to exit their decade-long investment in the grocer. Cerberus first took a stake in Albertsons in 2006 and scaled it through acquisitions including that of Safeway in 2014.
Grocery store chain Albertsons and Rite Aid plan to add more retail health clinics into more supermarkets after their merger is finalized later this year.
Grocer Albertsons will buy drugstore chain Rite Aid in a deal that would help remake the U.S. retail and health-care industries. (Source: Bloomberg)
TOKYO (AP) — Shares were higher in Asia on Wednesday, supported by rosy manufacturing data from Japan. The gains came despite losses on Wall Street, where a six-day winning streak was snapped by a plunge in Walmart stock and losses in other sectors.
___ Investors are winners as companies lay out tax-saving plans The tax overhaul was sold by its backers as a way to help American workers, and companies have announced plans to give employees bonuses ...
Stocks that moved substantially or traded heavily Tuesday: Rite Aid Corp., up 7 cents to $2.20 Grocery store company Albertsons agreed to buy more than 2,500 of Rite Aid's remaining stores. Gap Inc., down ...
Albertsons will become public once more as it announced plans Tuesday to merge with Rite Aid after over a decade of private ownership.
Insert in first paragraph, end of second sentence: ...for every 10 shares of Rite Aid common stock.
A year ago, Rite Aid Corp. was ready to be bought by Walgreens Boots Alliance Inc. for at least $6.50 per share in cash.
Albertsons plans to buy the portion of Rite Aid that isn’t being sold to Walgreens Boots Alliance as retailers of all stripes scramble to respond to a rapidly changing consumer shopping landscape.
The owner of Safeway and other grocery brands is buying the drugstore chain Rite Aid as retailers continue to plunge deeper into health care and adjust to swiftly changing shopping habits. Albertsons Companies ...
Rite Aid (RAD) is higher today, on news that it will merge with privately held grocery chain Albertsons Cos. According to the merger agreement, Rite Aid shareholders will be able to choose between receiving either one share of Albertsons common stock plus approximately $1.83 in cash, or 1.079 shares of Albertsons stock, for every 10 Rite Aid shares. Albertsons pharmacies will be rebranded as Rite Aid, and the combined company, which expects to see some $375 million in cost synergies, will trade publicly on the New York Stock Exchange.
The privately held Albertsons Companies, one of America’s leading grocery chains, announced its merger with drugstore chain Rite Aid (RAD) on February 20, 2018. The deal includes that part of Rite Aid that hasn’t already been sold to Walgreens. Rite Aid agreed to sell 1,932 stores and three distribution centers to Walgreens Boots Alliance (WBA) in September 2017.
Stocks slipped early Tuesday as earnings from blue chip retailers and retail and chip sector merger action stirred early trade.
Among the companies with shares expected to trade actively in Tuesday's session are WalMart, NXP Semiconductors, Rite Aid, Facebook and Home Depot.