Walgreens is buying Rite Aid's assets for $5.18 billion after the 2 sides terminate their merger

Walgreens Boots Alliance announced on Thursday that it entered into an agreement to acquire 2,186 Rite Aid stores and related assets for $US5.18 billion.

It’s the latest twist in the ongoing saga between the two companies, which drew scrutiny from US antitrust regulators earlier this year after announcing a merger valued at $US17.2 billion back in October 2015. The deal would have seen Walgreens acquire all outstanding shares of Rite Aid.

This story is developing. More to come…

NOW WATCH: An economist explains what could happen if Trump pulls the US out of NAFTA

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.