Totally contrary to its prior statements, WBA has reduced the buyout price for RAD from $9 per share to $7 per share if fewer than 1000 stores are required to be divested and to $6.50 if 1200 stores are required for divesture. If divesture falls between 1000 and 1200 stores, there will be a pro-rata adjustment. The date of the agreement has been extended to July 31, 2017.
There are two separate and distinct RAD positions.
What To Do Now
The long-term position is from $4.95. Profits have been taken on all but 15% of the position.