Albertsons Cos to merge with Rite Aid

Albertsons Cos, which is backed by Cerberus Capital Management LP, said Feb. 20 that it agreed to merge with Rite Aid. Albertsons will end up owning 70.4 percent to 72 percent of the combined company, a statement said. The deal will allow Albertsons to buy the part of Rite Aide that is not being acquired by Walgreens Boots Alliance, the Wall Street Journal reported. The deal is valued at around $24 billion, the WSJ said.

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