Thrift/Eckerd merger complete; Thrift may retain 63 Rite Aid stores in Carolina.
This article was originally published in The Tan Sheet
Executive Summary
THRIFT DRUG/RITE AID STORES ACQUISITION PARED BACK TO 63 South Carolina stores under a proposed Federal Trade Commission consent order signed by the chain Nov. 21 and announced by FTC Dec. 9. The J.C. Penney subsidiary had agreed to acquire 190 stores from Rite Aid in North and South Carolina. However, as a condition for approval of its merger with the 1,700-store Eckerd chain, Thrift would have to divest most of the Rite Aid stores.
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