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What payout options does Cardpool offer? The board of directors will be comprised of nine directors, four of whom will be named by Albertsons Companies including Bob Miller and Lenard Tessler , four of whom will be named by Rite Aid including John Standley , and one of whom will be a jointly selected director. A majority of the Board will be independent. Lenard Tessler will serve as Lead Director. The transaction has been approved unanimously by the boards of directors of both companies.
Bank of America Merrill Lynch also served as financial advisor to Albertsons Companies and is providing committed financing for the proposed transaction together with Credit Suisse and Goldman Sachs. An analyst call will be conducted at 8: Eastern Time today with remarks by both management teams. You may participate in the call by dialing within the U. The reservation number is: A playback of the call will also be available by telephone beginning at 12 p.
Eastern Time today until Eastern Time on March 6, The playback number is from within the U. About Albertsons Companies Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. Albertsons Companies is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. These efforts helped millions of people in the areas of hunger relief, education, cancer research and treatment, programs for people with disabilities and veterans outreach.
The Company also owns EnvisionRxOptions, a multi-faceted healthcare and pharmacy benefit management PBM company supporting a membership base of more than 22 million members; RediClinic, a convenient care clinic operator with locations in Delaware, New Jersey, Pennsylvania, Texas and Washington; and Health Dialog, a leading provider of population health management solutions including analytics, a multi-channel coaching platform and shared decision-making tools. Established in , Cerberus Capital Management, L.
From its headquarters in New York City and network of affiliate and advisory offices in the United States, Europe, and Asia, Cerberus has the on-the-ground presence to invest in multiple asset classes globally. Statements that are not historical facts, including statements about the pending merger between Albertsons Companies Inc. Such statements include, but are not limited to, statements regarding the benefits of the proposed merger, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions contemplated by the merger agreement.
These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions including assumptions about general economic, market, industry and operational factors , known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.
Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Albertsons Companies, Rite Aid, and their subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation. This Non-GAAP Measure excludes the financial impact of items management does not consider in assessing the ongoing operating performance of Albertsons Companies, Rite Aid, or the combined company, and thereby facilitates review of its operating performance on a period-to-period basis.
Other companies may have different capital structures or different lease terms, and comparability to the results of operations of Albertsons Companies, Rite Aid, or the combined company may be impacted by the effects of acquisition accounting on its depreciation and amortization.
As a result of the effects of these factors and factors specific to other companies, Albertsons Companies and Rite Aid believe Adjusted EBITDA provides helpful information to analysts and investors to facilitate a comparison of their operating performance to that of other companies. The presentation of the Non-GAAP Measure in this press release should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items.
A reconciliation of the Non-GAAP Measure has not been provided because such reconciliation could not be produced without unreasonable effort. In connection with the proposed strategic combination involving Rite Aid and Albertsons Companies Inc. Rite Aid, Albertsons Companies Inc.