Walgreens acquires Rite Aid for $4.4B: What it means for consumers

The decision to retain these stores follows discussions between Rite Aid and Walgreens and the U.S. Federal Trade Commission.

» RELATED: 10 retailers file for bankruptcy in 2017

“Securing regulatory clearance provides us with a clear path forward to realize the benefits of this transaction,” said Rite Aid Chairman and CEO John Standley. “With a compelling and more profitable store footprint in key markets, enhanced purchasing capabilities and a stronger balance sheet and improved financial flexibility, we are well positioned to implement our plans to deliver improved results.”

Both Rite Aid and Walgreens have stores across Southwest Ohio. Rite Aid is one of the nation’s leading drugstore chains that currently operates more than 4,500 stores in 31 states. Stores will continue operating as is, the company said.

FIVE FAST BUSINESS READS

• Chicago in minutes? Columbus named as finalist for Hyperloop

• INSIDE LOOK: Check out this sneak peek of the HomeGoods spinoff store

• Chip and Joanna Gaines will open “little shops” at Target stores

• Store openings and closings: What’s going on in local retail?

• 5 new restaurants and retailers coming to The Greene