US: FTC may sue to block RiteAid-Walgreens deal

Shares of US-based Rite Aid were down on Wednesday afternoon after media reports that US antitrust regulators may sue to stop its takeover by Walgreens. Bloomberg, citing trade publication Capitol Forum, said that the US Federal Trade Commission was considering a lawsuit to block the proposed merger.

The proposed deal has apparently hit turbulence in Washington since it was announced back in 2015. At that time, Walgreens said it would pay $9 a share, but earlier this year Walgreens said it would now pay just $6.50-$7 a share, valuing the deal between $6.82bn and $7.35bn.

Full Content: Bloomberg

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