In Brief: Rite Aid
This article was originally published in The Tan Sheet
Executive Summary
Rite Aid: Kmart selling its 5.6% common stock stake (6.9 mil. shares) in the Harrisburg, Penn.-based drug store chain to reduce debt, according to a Dec. 20 filing with the Securities & Exchange Commission. Kmart, which had been a Thrifty Payless stockholder, acquired the stock in the merger of Rite Aid and Thrifty Payless announced in October and completed Dec. 12, making the discount retailer the sixth-largest stakeholder in Rite Aid ("The Tan Sheet" Oct. 21. 1996, p. 19). Based on the current price of Rite Aid stock, Kmart's stake is worth approximately $271 mil...
You may also be interested in...
Supplement GMP Warning Letters Make Modest Debut In 2010
Finalization of a settlement between the Federal Trade Commission and Rexall Sundown regarding unsupported cellulite treatment claims for the firm's Cellasene dietary supplement hinges upon approval of two related class action settlements pending in California and Florida, according to FTC
In Brief
Combe sells most of its OTC brands
People In Brief
Perrigo promotes in pricing, planning