In the U.S., Walgreens and Rite Aid are said to be on track for a merger of their stores. It might mean the closure of as many as 500 pharmacies. Walgreen already owns names like Duane Reade (New York City) and Boots (Europe). Walgreen is the second biggest U.S. drugstore chain (after CVS) and Rite Aide fourth largest. Many will wonder about the recent sale of the Rexall chain in Canada. In May it moved from the hands of Edmonton Oilers owner Daryl Katz to those of the U.S. firm McKesson for $3 billion. But then there is the entrepreneurial Galen Weston recently winner of a deal to own Shoppers Drug Mart. Does he have further plans? It is all speculation of course but remember that the wealthy buy things because they can.
