Albertsons, Rite Aid Abandon Merger Plans

Source: Albertsons, Wednesday, Aug 8, 2018

The planned merger between US grocer Albertsons and drugstore chain Rite Aid has been scrapped. Albertsons said that, while it believed the rationale was “compelling”, it had been unable to overcome objections from Rite Aid stockholders to the deal. It added that after consideration it felt unable to change the terms of the original offer and was therefore stepping away from the proposal.