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Rite Aid schedules shareholder vote.

Europe Intelligence Wire

| December 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From AFX Europe (Focus))

CAMP HILL, Pa. (AFX) - Rite Aid Corp. on Thursday scheduled a stockholders meeting for Jan. 18 to vote on its $2.55 billion purchase of Eckerd and Brooks stores.

The nation's third-largest drugstore chain said it still hopes the transaction will be completed in the company's fourth quarter, which ends March 3. The shareholders meeting will be in Harrisburg.

A federal antitrust review is ongoing, and analysts noted that some of the 1,858 drugstores in the deal are in areas in which Rite Aid already has a heavy presence, such as Philadelphia, New York and Baltimore.

Camp Hill-based Rite Aid in October rejected a call by a labor-affiliated group to ...

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