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Nearly six months after being announced, and more than four months after clearing a key regulatory hurdle, the proposed Albertsons-Rite Aid merger will come to a shareholder vote.
Rite Aid said Thursday that it has scheduled an Aug. 9 special meeting of stockholders for a vote on the $24 billion deal, which the companies unveiled Feb. 20. If approved, the agreement would take privately held Albertsons Cos. public, and its shareholders would hold a majority stake in the combined company.
The merger has been unanimously approved by the boards of both companies, and the Hart-Scott-Rodino (HSR) waiting period expired March 28. Pending approval of Rite Aid shareholders, regulatory clearance and other customary closing conditions, the transaction is expected to close early in the second half of 2018.
In recent weeks, media reports have surfaced about opposition to the merger by some...