Walgreens To Buy Pharmacy Files Of 185 Fred's Pharmacies Across Southeastern US

(RTTNews) - Walgreens agreed to acquire pharmacy patient prescription files and related pharmacy inventory of 185 Fred's Inc. (FRED) stores located across 10 Southeastern states.

As per the agreement, the aggregate consideration to be paid by Walgreens to Fred's is $165 million, subject to adjustment, plus an amount equal to the value of related pharmacy inventory.

The transaction is subject to the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the satisfaction or waiver of certain other customary closing conditions.

The companies expect the file transfers to begin in the fourth quarter of calendar 2018 and be completed in the first quarter of calendar 2019.