Albertsons, Rite Aide Merging to form $83 Billion Company

Retail giant Albertsons is buying Rite Aid, the third-largest drugstore chain in the US. Their combined retailer revenue would be about $83 billion and will reach about 40 million US customers per week, at 4,900 locations, reports USA Today.Rite Aid chairman and chief John Standley will become ceo of the combined company, and Albertsons ceo, Bob Miller, will become chairman of the board.The deal serves a few purposes for the retailers, including:-- Albertsons ownership group, Cerberus Capital Management, will get