Oct 27 (Reuters) – Drugstore operator Walgreens Boots Alliance Inc is in advanced talks to buy smaller rival Rite Aid Corp, the Wall Street Journal reported, citing people familiar with the matter.
A deal is expected to be announced by Wednesday, the newspaper said. (Walgreens, Rite Aid Unite to Create Drugstore Giant )
Rite Aid’s shares were up 42 percent at $8.58. Walgreen’s shares were up 4.2 percent at $93.46.
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