Luke Schiefelbein, SumZero: What’s going on with Rite Aid these days? Brandon Paulson: Rite Aid recently agreed to terminate its merger with Walgreens, after an Federal Trade Commission review that lasted over 500 days. Rather than defend the deal through litigation, Walgreens and Rite Aid mutually agreed to terminate the transaction. Rite Aid anticipates it will have $4.5-$4.7b in cash to pay down debt, reducing its leverage ratio by 50%. Why are you still long Rite Aid even though the merger with Walgreens has fallen through?

Source: Forbes July 07, 2017 15:56 UTC