Rite Aid - Albertsons Deal Gets U.S. Regulatory Approval

(RTTNews) - Rite Aid Corp. (RAD) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with its previously announced merger with Albertsons Companies, Inc., expired at 11:59 p.m. ET on March 28, 2018.

The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the merger, which remains subject to other customary closing conditions, including but not limited to the approval of Rite Aid's stockholders.

In February 2018, the companies said that Privately-held Albertsons Companies would merge with drugstore chain Rite Aid Corp. to create a leader in food, health, and wellness.

Under the terms of the agreement, in exchange for every 10 shares of Rite Aid common stock, Rite Aid shareholders will have the right to elect to receive either (i) one share of Albertsons Companies common stock plus about $1.83 in cash or (ii) 1.079 shares of Albertsons Companies stock.