Rite Aid Plunges as FTC Deals Blow to Merger Plan

Shares of Rite Aid (NYSE: RAD) plunged 13% on Friday after the Federal Trade Commission said that it wasn't satisfied with a plan by the company's suitor, Walgreens Boots Alliance (NASDAQ: WBA), to sell 865 Rite Aid stores to smaller pharmacy chain Fred's (NASDAQ: FRED) as a concession to win regulators' consent for the larger chains to merge.