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Rite Aid and Albertsons Have Called Off Their $24 Billion Merger

Business Insider
  • Pharmacy chain Rite Aid and grocer Alberstons have called off their $24 billion merger shortly after a shareholder advisory firm opposed the deal.
  • The U.S. grocer had hoped that the deal, which was seen as part of a wave of consolidation in the drug retailing sector, would help Albertsons become a formidable competitor to CVS Health and Walgreens.
  • Rite Aid fell as much as 11% Thursday morning on the news...
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