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4-Traders Homepage  >  Equities  >  Nyse  >  Rite Aid Corporation    RAD

RITE AID CORPORATION (RAD)
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Albertsons : F&D Reports / Creditntell Release Operational Expectations of Albertsons Rite Aid Merger Announcement

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02/23/2018 | 01:17pm CET

(PRWeb) - Industry-leading retail financial consulting firm Information Clearinghouse, Inc. (ICI), through its F&D Reports and Creditntell divisions, has released a Special Update on the recently announced merger of Albertsons Companies and Rite Aid Corporation.

The merger is the latest within the retail grocery and drug space, reflecting increasing consolidation among the major players as the retail landscape continues to shift, including the impact of growing ecommerce competitors. The agreement also provides Albertsons` private equity holders, a consortium led by Cerberus, an avenue to go public, considering its planned initial public offering has been on hiatus since it was announced in July 2015. On a pro forma basis, the combined company is expected to generate year one revenues of approximately $83.00 billion and adjusted EBITDA of approximately $3.70 billion (including cost synergies). Albertsons has arranged $8.40 billion in new debt financing, including revolving, term and bridge loan facilities, to complete the cash portion of the acquisition, refinance certain of Rite Aid`s existing $6.83 billion in debt, and pay fees. The merger agreement includes a mutual termination right in the event that it is not consummated by August 18, subject to extension to November 18.

In addition to detailing the specific terms of the agreement as well as operational expectations for the combined company, ICI`s Special Update provides Rite Aid`s fiscal 2019 guidance, expected cost synergies, and geographic coverage / market position of the combined company. The report also offers a pro forma financial snapshot and ICI`s proprietary company credit ratings.

Commenting on the Albertsons Rite Aid Special Update, ICI CEO Lawrence Sarf stated, "Rite Aid has struggled for years, and stakeholders were thrown a lifeline when Walgreens agreed to acquire 1,932 of its stores. With its drastically reduced scale, loss of national footprint, and declining operating results, the question arose as to what options would be left for the shrinking and troubled chain. This week`s announcement, with privately held Albertsons picking up the rest of the pieces, will create a larger player with the scale needed to better compete. However, it remains to be seen how both of these struggling retailers will create a more compelling shopping experience to improve their top-line performance."

Information Clearinghouse, Inc. (publisher of F&D Reports & Creditntell) is a leading credit consulting firm specializing in the analysis of public and private companies in numerous retail segments. The focus of its analysis is to deliver the key intelligence today`s busy credit executive needs to make a highly informed decision without sifting through pages of non-essential data. To learn more, visit our websites at http://www.fdreports.com and http://www.creditntell.com.

(c) Copyright: Arab News 2018 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
RITE AID CORPORATION -1.88% 2.09 Delayed Quote.8.12%
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Financials ($)
Sales 2018 27 457 M
EBIT 2018 147 M
Net income 2018 96,8 M
Debt 2018 2 554 M
Yield 2018 -
P/E ratio 2018 67,33
P/E ratio 2019 64,33
EV / Sales 2018 0,17x
EV / Sales 2019 0,21x
Capitalization 2 156 M
Chart RITE AID CORPORATION
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Rite Aid Corporation Technical Analysis Chart | RAD | US7677541044 | 4-Traders
Technical analysis trends RITE AID CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 2,08 $
Spread / Average Target 3,1%
EPS Revisions
Managers
NameTitle
John T. Standley Chairman & Chief Executive Officer
Kermit R. Crawford President & Chief Operating Officer
Bryan B. Everett Chief Operating Officer-Rite Aid Stores
Darren W. Karst Chief Financial & Administrative Officer, SEVP
Steve Rempel Chief Information Officer & Senior Vice President
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