NY Post: Walgreens’ plan could require FTC to rule on Rite Aid merger within 30 days
DEERFIELD, Ill. — Walgreens Boots Alliance could soon declare it has “certified compliance” in its Rite Aid merger, forcing the U.S. Federal Trade Commission to vote on the proposed transaction in 30 days, reported The New York Post.
“The declaration would mean that, in Walgreens’s opinion, it has given regulators substantially all the information they need to make a decision,” the newspaper wrote.
The Post believes the move would be “risky” but could bear fruit for Walgreens with a Republican-led FTC not likely to block the $9.7 billion deal. Only two commissioners are sitting on the five-member FTC panel, Republican Maureen Olhausen and Democrat Terrell McSweeny. In this case, the two commissioners would need to both vote to block the deal, something not expected to happen, sources told The Post.
The Walgreens-Rite Aid proposed merger was first announced in Oct. 2015. If the deal goes through, Fred’s Pharmacy would buy at least 865 divested Rite Aid stores.