October 30, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Rite Aid Corporation (NYSE:RAD), was announced concerning whether the takeover of Rite Aid Corporation by Walgreens Boots Alliance, Inc for $9.00 per share is unfair to NYSE:RAD stockholders.

The investigation by a law firm concerns whether certain officers and directors of Rite Aid Corporation breached their fiduciary duties owed to NYSE:RAD investors in connection with the proposed acquisition.

On 27 October 2015, Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and Rite Aid Corporation (NYSE:RAD)announced that they have entered into an agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid Corporation (NYSE:RAD)for $9.00 per share in cash, for a total enterprise value of approximately $17.2 billion.

However, given that at least one analyst has set the high target price for NYSE:RAD shares at $10.00 per share and that NYSE:RAD shares traded as recently as August 2015 in the open market as high as $9.32 per share, the investigation concerns whether the offer is unfair to NYSE:RAD stockholders. More specifically, the investigation concerns whether the Rite Aid Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Rite Aid Corporation reported that its Total Revenue rose from over $25.39 billion for the 52 weeks period that ended on March 2, 2013 to over $26.52 billion for the 52 weeks period that ended on February 28, 2015 and that its Net Income for those respective time periods increased from $118.11 million to over $2.1 billion.

Shares of Rite Aid Corporation (NYSE:RAD) grew from $1.03 per share in December 2012 to as high as $9.32 per share in August 2015.