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No vote: Rite Aid-Albertsons merger called off

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Faced with growing investor opposition, Cumberland County-based Rite Aid Corp. and Idaho-based supermarket chain Albertsons Cos. have called off a planned $24 billion merger.

A special shareholder vote was slated for today in New York. The companies announced the decision to scrap the merger plans Wednesday evening.

"While we believed in the merits of the combination with Albertsons, we have heard the views expressed by our stockholders and are committed to moving forward and executing our strategic plan as a standalone company," Rite Aid Chairman and CEO John Standley said.

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