Today Stockholders agreed to the Rite Aid and Walgreen’s planned merger. Rite Aid has released this information:
Rite Aid Corporation (NYSE: RAD) (“Rite Aid”) announced today that its stockholders have voted to approve the adoption of the previously announced Agreement and Plan of Merger, dated as of Oct. 27, 2015 (the “Merger Agreement”), by and among Rite Aid, Walgreens Boots Alliance, Inc., a Delaware corporation (“WBA”), and Victoria Merger Sub, Inc., a Delaware corporation and a wholly owned direct subsidiary of WBA (“Victoria Merger Sub”), providing for the merger of Victoria Merger Sub with and into Rite Aid (the “Merger”), with Rite Aid surviving the Merger as a wholly owned direct subsidiary of WBA, at a special meeting of stockholders held today.
Approximately 97% of the votes cast at today’s special meeting of stockholders voted in favor of the adoption of the Merger Agreement, which represented approximately 72% of Rite Aid’s total outstanding shares of common stock as of the Dec. 18, 2015 record date and constitutes a majority of the outstanding shares of Rite Aid common stock entitled to vote at the special meeting, as required to adopt the Merger Agreement under the General Corporation Law of the State of Delaware. A quorum of 74% of Rite Aid’s total outstanding shares of common stock as of the Dec. 18, 2015 record date voted at the special meeting.
What does this mean for the future of both stores? We don’t know, but we will let you know as soon as we hear anything!
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