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Thursday, March 12, 2015

Walgreens Boots CEO expects to do more deals in US, (NYQ: RAD)

Stefano Pessina, the billionaire investor who engineered the deal that created pharmacy giant Walgreens Boots Alliance Inc., said he could imagine doing more deals in the United States as the healthcare system is shaken up by Obamacare. "The next big one will probably be in the U.S. because it is such a big market. It is a fascinating market," Pessina, acting chief executive of Walgreens Boots, told the Retail Week Live conference."It is similar to what we had in Europe 20 years ago because the intervention of the government changes all the rules."The Democratic-backed Affordable Care Act, commonly called Obamacare, aims to help millions of Americans without health insurance obtain coverage.There has been speculation that Walgreens' smaller rival Rite Aid Corp, which is acquiring full service benefit management company Envision Pharmaceutical for $2 billion, could itself be an attractive acquisition target, with Walgreens having expressed interest in buying it in the past.

Rite Aid Corporation is a retail drugstore chain in the United States. Shares of RAD fell by 1.08% or $-0.08/share to $7.31. In the past year, the shares have traded as low as $4.42 and as high as $8.62. On average, 23753000 shares of RAD exchange hands on a given day and today's volume is recorded at 16158029.