Walgreens Boots Alliance and Rite Aid Corporation have mutually agreed to extend the end date of their merger agreement from 27 October to 27 January next year.
The two firms now expect the transaction to complete in early next year.
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Last October, the companies signed a definitive agreement under which Walgreens Boots Alliance agreed to acquire all outstanding shares of Rite Aid for $9 a share in cash.
As per the terms of the merger agreement, either firm has the right to extend the end date to 27 January next year by delivery of notice to the other.
Walgreens Boots Alliance is a leading retail pharmacy, health chain across the US and Europe.
Walgreens Boots Alliance and the companies in which it has equity method investments have a presence in more than 25 countries, employ more than 400,000 people and over 13,200 stores.
Rite Aid Corporation is a leading drugstore chain in the US with nearly 4,600 stores in 31 states and the District of Columbia, as well as posted annual revenues of $30.7bn in the current fiscal year.
