Rite Aid drops after failed merger narrows options for drugstore

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THE PROPOSED MERGER between Rite Aid Corp. and Albertsons Cos. has been called off. / BLOOMBERG NEWS FILE PHOTO/DAVID PAUL MORRIS
NEW YORK - Rite Aid Corp. shares sank after the drugstore operator’s proposed merger with Albertsons Cos. was called off, leaving the company with dwindling options amid a rapid transformation of the pharmacy business. The collapse of the deal is the second time an attempt to combine with a larger retailer has failed for Rite…

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