Shares of health-care companies fell as traders awaited the outcome of Senate negotiations on the repeal of the Affordable Care Act. Walgreens Boots Alliance and Rite Aid scrapped their $9.4 billion merger agreement after opposition from antitrust enforcers. In lieu of the merger, Walgreens said it would seek to buy half of Rite Aid's stores for $5.18 billion in cash. Shares of regional pharmacy chain Fred's, which had seen a rally in its stock after being invited to buy a large chunk of stores to satisfy antitrust concerns in the original deal, saw a selloff Thursday.
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(END) Dow Jones Newswires
June 29, 2017 16:46 ET (20:46 GMT)