Markets Wired

The Acting Director of the Federal Trade Commission’s Bureau of Competition, Tad Lipsky, issued the following statement on this morning’s announcement regarding Walgreens Boots Alliance, Inc.’s proposed acquisition of Rite Aid Corporation.

“The Commission staff thoroughly investigated the potential impact that the proposed Walgreens/Rite Aid merger may have had on competition and evaluated a number of divestiture proposals put forward by the parties. Before the time the companies would have been free to close their transaction absent Commission action, they voluntarily withdrew their HSR filings, and the matter is no longer before the Commission. Walgreens and Rite Aid have publicly stated they have reached a new agreement relating to certain Rite Aid assets. The FTC will review any new transaction proposed by the parties under the statutes enforced by the Commission, as may be applicable.”

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