Fred's shares surge more than 60 percent on deal to sell some pharmacy files to Walgreens
Walgreens will purchase files and related pharmacy inventory of 185 Fred's stores across 10 Southeast states. Walgreens will pay Fred's $165 million, subject to adjustment, plus an amount equal to the value of related pharmacy inventory. Shares of Fred's FRED surged 63 percent Monday after it announced it will sell some pharmacy files to Walgreens WBA for at least $165 million.