The Federal Trade Commission is asking for more information about Walgreens’ $9.41-billion plan to buy rival drugstore chain Rite Aid, a sign that regulators may have concerns about how that deal will affect competition.
Attorney Allen Grunes says federal regulators ask for more information when their initial review of a deal suggests that there are serious competitive concerns. Grunes led merger investigations as an anti-trust attorney with the Justice Department. He is not tied to this case.
Walgreens says it expected the request.
Walgreens Boots Alliance Inc. is the nation’s largest drugstore chain with more than 8,000 stores in the United States, while Rite Aid Corp. runs around 4,600. Walgreens said after announcing the deal in October that the agreement calls for divesting up to 1,000 stores if required by regulators.