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A rise in M&A activity would be welcome news on Wall Street, where the major banks all reported drops in merger advisory revenue for the second quarter.
Other suitors, including Walgreens, Albertsons, Kroger and Giant Eagle, have also submitted bids for portions of Rite Aid’s pharmacy assets and may retain some employees.
The costs include professional and credit facility fees, as well as $34 million in interest on $10.5 billion borrowed in anticipation of the $24.6 billion deal.