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Walgreens Set to Buy Rite Aid

MERGER

2nd and 3rd largest drugstore chains.

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Jim Young/Reuters

Walgreens is reportedly finalizing a deal to buy Rite Aid, which would unite the second and third-biggest drugstore chains in the country. The full details of the $9.4 billion acquisition will be released Wednesday. Rite Aid had a market value of more than $6 billion on Monday. Drug-cost inflation has hit both of the companies and a merger could help yield cost savings.

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