NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Rite Aid Corporation (“Rite Aid” or the “Company”) (NYSE:RAD) for potential breaches of fiduciary duties in connection with the sale of the Company to Walgreens Boots Alliance, Inc. for approximately $17.2 billion.
The Company’s stockholders will only receive $9.00 in cash for each share of Company common stock they own. However, the offer is lower than at least one analyst’s price target of $10 per share and 52-week high price of $9.47 per share.
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The investigation focuses on whether Company’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Company’s shareholders.
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If you own common stock in Company and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/RAD or contact Juan Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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