Rite Aid calls off Albertsons deal

The planned merger between Albertsons and Rite Aid was called off earlier this month due to concerns that the drug store chain's investors wouldn't approve the deal. At issue was the $24 billion price, which many of the stockholders and third party advisory firms felt was insufficient.

The deal was originally announced in February and was approved by both companies' boards. As per the plan, Albertsons would get on the New York Stock Exchange through an acquisition of Rite Aid's publicly traded shares.

Albertsons had sought to go public for several years, in part to address high levels of debt. In addition, Albertsons saw the Rite Aid deal as a way to more than double the number of stores it operated, and benefit from the ongoing convergence of the food and wellness fields.

For Rite Aid, its the third time a deal to sell the company has fallen though. A planned acquisition by Walgreens was trimmed back considerably in 2016 by federal regulators, and so was a plan for Fred's to acquire Rite Aid stores that Walgreen's wouldn't buy.

BJ's Wholesale goes public... again

After filing for an initial public offering in May, late last month BJ's Wholesale Club announced an IPO of 37.5 million shares of common stock at $17 per share, raising $637.5 million. The company now trades under the ticker symbol "BJ" on the New York Stock Exchange.

The stock closed yesterday at $23.75.

BJ's presence on the stock market marks a seven-year absence, when in 2011 Leonard Green & Partners and CVS Capital Partners took the company private via a $2.8 million buyout. At the time, BJ's operated 190 warehouses. It now has 215 stores in 16 states.

Rite Aid transfers 1,651 stores to Walgreens

Rite Aid announced last month that it has transferred 1,651 stores to Walgreens. In all, Walgreens is buying 1,932 stores and three distribution centers from Rite Aid for about $4.4 billion in cash. The transfer of the remaining stores to Walgreens will take place this spring.

The remaining 2,500+ Rite Aid stores are being sold to Albertsons in a deal that will leave Rite Aid shareholders with ownership of 28% - 30% of the combined company. The yet-to-be-named combined company will trade publicly on the New York Stock Exchange.