Rite Aid Corporation has announced an agreement with Albertsons Companies Inc. to terminate their planned merger.
While the deal had been conceived as a method of competing with Amazon, some large Rite Aid shareholders objected, saying that they would vote against the merger. They argued that Rite Aid’s potential for revenue had been underestimated and that its prescription service program would yield more than expected.
“While we believed in the merits of the combination with Albertsons,” says John....