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Wednesday, February 11, 2015

Rite Aid to purchase pharmacy benefit manager EnvisionRx for $2 bln, (NYSE: RAD)

Drugstore operator Rite Aid Corp said it would purchase privately held pharmacy benefit manager EnvisionRx for about $2 billion. Rite Aid said it would pay about $1.8 billion in cash and $200 million in stock.

Rite Aid Corporation is a retail drugstore chain in the United States. Shares of RAD traded higher by 2.57% or $0.19/share to $7.58. In the past year, the shares have traded as low as $4.42 and as high as $8.62. On average, 20183400 shares of RAD exchange hands on a given day and today's volume is recorded at 20326452.