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Walgreens abandons Rite Aid bid, will instead buy nearly half of stores

June 30, 2017

The long-suffering deal's implosion preserves the three largest drugstore chains as independent entities, but the new agreement will still make Walgreens Boots Alliance, its official name, the nation's largest by number of locations, edging archrival CVS Health. Consumer advocates gently welcomed the development. This merger would have led to higher prices," former FTC policy director David Balto said.

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