News

Green Equity Investors exchanges nearly 1.9 million shares of Rite Aid preferred stock for common stock

BY Alaric DeArment

CAMP HILL, Pa. – A private equity firm that is a major Rite Aid shareholder has exchanged its preferred stocks for common stock, according to a regulatory filing.

According to a filing with the Securities and Exchange Commission, Los Angeles-based Green Equity Investors exchanged nearly 1.9 million shares of 6% Series H preferred stock and 7.75 shares of Series G preferred stock for about 40 million shares of common stock, which was trading at $5.20 per share on the New York Stock Exchange Friday morning, up 2.34% from its opening price, for a total value of about $208 million, or 4.4% of the company’s total stock.

At most publicly traded companies, including Rite Aid, holders of preferred stock have different rights from holders of common stock. At the company’s annual meeting earlier this year, Series G and Series H preferred stockholders voted as a single class for one member of the board of directors, while holders of common stock elected the remaining board members, according to the company’s 2013 proxy statement.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Walgreens’ Beth Stiller talks consumer shopping habits with Bloomberg Businessweek

BY Michael Johnsen

NEW YORK — Walgreens’ Beth Stiller, division VP category strategy and innovation, on Thursday discussed with Bloomberg Businessweek the shopping habits of today’s post-recession consumer and how Walgreens is engaging that consumer where and when she wants.  

"Customers have become really sophisticated, and value to customers comes in lots of different forms," she told the news journal. "It could be personal interaction in a bricks-and-mortar store. It could be the ease of your mobile app, or just convenience and helping me get what I need to get done quickly, easily, and in the way I want to do it."

Stiller also outlined the investment Walgreens is making across its pharmacy staff in an effort to make the pharmacist more accessible. "They’re out front at a desk, on the floor, where you can talk to them if you need them," she said. "So that’s really enabled us to change the interaction and make the pharmacist a real pivotal piece of your healthcare plan."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Meijer anticipates more flu shots in 2013-2014 season amid increased demand

BY Alaric DeArment

GRAND RAPIDS, Mich. — Meijer expects its pharmacists to administer 40% more flu shots this season than last year due to increased demand, the mass-merchandise retailer said.

The Grand Rapids, Mich.-based chain, which operates 203 stores in the Midwest, said walk-in services and new options for flu shots had made it easier and more appealing for families to get vaccinated.

"Meijer customers know that we’re making it easy for them to take care of their families by offering walk-in services and a variety of immunization choices to better meet their needs," Meijer Drug Store VP Nat Love said. "If one person in your family is sick, chances are the illness will circulate throughout your home. The flu vaccine really is your best defense for keeping your entire family healthy."

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?