BOISE, Idaho (KLIX) – Rite Aid Corp. and Albertsons Companies Inc., which previously had plans to merge by the end of the year, have mutually agreed to terminate the merger agreement.

Albertsons announced in February it would merge with Rite Aid, but some stockholders were against the deal.

Rite Aid Chairman and CEO John Standley said in a prepared statement that views expressed by the company’s shareholders “are committed to moving forward and executing our strategic plan as a standalone company.”

Albertsons, in a separate news release, explained it was unwilling to change the terms of the merger:

We disagree with the conclusion of certain Rite Aid stockholders and third-party advisory firms that although they acknowledged the strategic logic of the combination, did not believe that Albertsons Companies was offering sufficient merger consideration to Rite Aid stockholders.

Neither company will be responsible for any payments to the other party as a result of the termination agreement, the companies said.


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