Global pharmacy company Walgreens Boots Alliance has dropped its plans to buy US-based rival Rite Aid.
Instead, Walgreens has agreed to buy 2,186 Rite Aid stores and some distribution centres for US$5.2 billion.
Walgreens' planned takeover of Rite Aid was first announced in October 2015.
However, it faced resistance from competition regulators as it would have seen a tie-up of the first and third largest US pharmacy chains.
Walgreens said the new transaction addresses competitive concerns previously raised with respect to the prior transaction.
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