Walgreens Buying Rite Aid in $17 Billion Deal

By JASON CLAFFEY (Patch Staff)

Walgreens Boots Alliance confirmed Tuesday it will acquire the Rite Aid Corp. for $17.2 billion in a deal that unites the nation’s second and third largest drugstore chains.

The “definitive agreement” means Deerfield-based Walgreens will acquire all outstanding shares of Rite Aid for $9 per share in cash, totaling $17.2 billion.

In Massachusetts, Walgreens operates 167 stores, while Rite Aid operates 148 stores. Combined, the stores run more than 13,000 stores in 11 countries.

There are a trio of Walgreens in Framingham. There are two Rite Aids in Ashland.