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Walgreens Ditches Rite Aid Deal, Will Buy Stores Instead

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Walgreens Boots Alliance says it’s no longer merging with rival Rite Aid after failing to gain antitrust approval. Instead, Walgreens will buy about half of Rite Aid’s stores for nearly $5.2 billion. Zacks reports the store locations being acquired are mostly in the Northeast, Mid-Atlantic and Southeastern parts of the U.S. Reuters reports Rite Aid’s shares plunged, while Walgreen’s went up slightly Wednesday.

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