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Article: Rite Aid will grow to Approximately 5,000 Drugstores as the Jean Coutu Group Agrees to Merge all Brooks and Eckerd Stores into Rite Aid In a Transaction Valued at $3.4 Billion

Article from:
CCNMatthews Newswire
Article date:
August 24, 2006
Copyright

CAMP HILL, PENNSYLVANIA and LONGUEUIL, QUEBEC--(CCNMatthews - Aug. 24, 2006) - Rite Aid Corporation (NYSE:RAD)(PCX:RAD) and The Jean Coutu Group (PJC) Inc. (TSX:PJC.A):

- The Jean Coutu Group Will Receive $1.45 Billion in Cash and a 32.0% Common Equity - Interest In Rite Aid, Making It the Leading Rite Aid Shareholder; Rite Aid Also Intends - To Assume $850 Million of Jean Coutu Group Long-Term Debt

- Transaction Accelerates Rite Aid's Growth Strategy, Giving Company Scale Comparable - To Its Major Competitors; Expected to be Accretive to Rite Aid Earnings Twelve Months After Closing

- Transforms The Jean Coutu Group's U.S. Regional Drugstore Investment Into Significant Interest in Major ...

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