Albertsons, one of the nation’s largest grocery retailers, offered to acquire Rite Aid, one of the nation’s leading drugstore chains, for $5.5bn. The offer was lapsed in August 2018. “This powerful combination enables us to become a truly differentiated leader in delivering value, choice, and flexibility to meet customers’ evolving food, health, and wellness needs. The combined platform positions Rite Aid to capitalize on our pharmacy expertise and expand and enhance our pharmacy footprint. We are confident that delivering improved customer experiences and value will drive growth and profitability while creating compelling long-term value for shareholders,” John Standley, Rite Aid Chairman and Chief Executive Officer.