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(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 ...