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December 22, 2005

CVS confirms talks about buying Albertson's drugstores

WOONSOCKET - Drugstore chain CVS Corp. said today it has been in discussions with Albertson's Inc. regarding the purchase of the supermarket chain's standalone Sav-on and Osco drugstores.

CVS said no agreement on any transaction between the company and Albertson's has been reached.

Albertson's, based in Boise, Idaho, is the nation's second-largest supermarket chain with about 2,500 stores. The company has reportedly ended talks to be acquired by a group of investors including CVS for $9.6 billion in cash and stock, The New York Times said today.

CVS, based in Woonsocket, operates more than 5,400 retail and specialty pharmacy stores nationwide.

- The Associated Press

Posted by Jack Perry  at 10:21 AM | Permalink