1. Rite Aid shares jump after report of deal talks with Albertsons
Rite Aid shares soared 23 percent higher in pre-market trading on Tuesday after The Wall Street Journal reported supermarket chain Albertsons was in talks to buy the remainder of Rite Aid not being sold to Walgreens. The partnership would create a company with revenue of $83 billion, and help Idaho-based Albertsons confront increasing competition from Whole Foods owner Amazon. The proposed cash-and-stock deal would give Albertsons shareholders 71 percent of the combined company, with the rest going to Rite Aid investors, the Journal reported. Representatives of the companies did not immediately comment.
2. Donald Trump Jr. starts India trip to sell condos
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3. GM to revamp Kansas plant to make Cadillac crossover SUVs
4. Walmart shares drop as quarterly earnings fall short of expectations
5. Hundreds of KFC restaurants close in U.K.
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