Albertsons plans to buy the rest of Rite Aid that isn’t being sold to Walgreens. For those who don't know, Albertsons is an American grocery company founded and headquartered in Boise, Idaho. They own several other brands including Safeway Inc and Acme Markets.
Breaking: Rite Aid and Albertsons plan $24 billion tie-up, as retailers of all stripes respond to competitive threat from Amazonhttps://t.co/N31F3sWMbB— The Wall Street Journal (@WSJ) February 20, 2018
This morning, Rite Aid is up 30% to $2.74 on news Albertson's is buying it. 20 years ago, Rite Aid was going for $50 per share.— Eddy Elfenbein (@EddyElfenbein) February 20, 2018