In the past two years, Rite Aid has seen multiple mergers fall through, leaving an uncertain future for the company with no clear end game. In 2017, a proposed tie-up with Walgreens fell apart amid antitrust scrutiny by U.S. regulators. In August 2018, another proposed merger, with supermarket chain Albertsons Cos., was called off after two prominent proxy advisers recommended that shareholders vote against it.

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