Image source: Rite Aid.
Shares of drug store chain Rite Aid (NYSE: RAD) slumped on Friday after Bloomberg reported that the Federal Trade Commission was not satisfied with Walgreens‘ (NASDAQ: WBA) plan to gain antitrust clearance for its proposed acquisition of the company. At 2:45 p.m. EST, Rite Aid stock was down 11%, while shares of Walgreens had slumped 2.5%.