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Walgreens Ends Rite Aid Merger, Will Buy Half Its Stores

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Walgreens Boots Alliance and Rite Aid nixed their $9.4 billion merger agreement and reached a new deal in which Walgreens will instead buy half of Rite Aid's stores for $5.18 billion in cash.

Sycamore Plans to Split Staples into Three

Sycamore Partners intends to split Staples Inc. into three to help fund its $6.9 billion purchase of the office-supply seller, in another sign of the challenges facing the retail industry.

Oaktree Nears Buyout of Fifth Street Asset Management

Oaktree Capital is nearing a buyout of debt investor Fifth Street Asset Management, according to people familiar with the matter.

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Fox's Bid for Sky Set for More U.K. Scrutiny

The U.K. government said it was likely to require further scrutiny of 21st Century Fox's $15.1 billion bid to buy the 61% of British TV giant Sky it doesn't already own.

Pine River Capital to Spin Off Nearly $2 Billion Hedge Fund

Pine River Capital Management plans to spin off a nearly $2 billion government bond-trading fund into a standalone firm Jan. 1, in what is likely to be one of the biggest new hedge-fund launches next year.

Blue Apron's Shares Edge Higher in Trading Debut

Shares of Blue Apron hovered just above the initial public offering price in their market debut after they priced at the bottom of lowered expectations.

Aetna to Move Headquarters to New York

Aetna will move its corporate headquarters along with 250 jobs to Manhattan by late 2018, from Hartford, Conn., the latest company to abandon a smaller city for a major urban center.

BP Writes Off Exploration Assets in Angola

BP PLC said Thursday it will write off $750 million from its second quarter earnings as a result of poor exploration results in Angola, an oil-rich country that the company has touted as a pillar of its business.

Fred's Stock Takes a Hit After Walgreens-Rite Aid End Merger Plan

Regional pharmacy chain Fred's enjoyed a runup in its stock price after being invited to buy a large chunk of stores to satisfy antitrust concerns in Walgreens's plan to buy Rite Aid. But its stock tumbled after the merger was aborted.

Google's Main Strategy Is Under Threat From EU

Google has thrived by launching new services out of its powerful search engine, but a European Union fine against the company now puts its hallmark strategy under threat.

(END) Dow Jones Newswires

June 29, 2017 13:16 ET (17:16 GMT)