RETAILING

FTC, States to Challenge Rite Aid’s Revco Purchase: The Federal Trade Commission staff and several states are preparing an antitrust lawsuit to block Rite Aid Corp.’s proposed $1.8-billion purchase of Revco Inc., its biggest competitor, officials said. The acquisition by Rite Aid, the nation’s largest drugstore chain with more than 2,700 outlets, could run afoul of antitrust laws by hindering competition in the retail drug market and harming the growth of managed-care companies, said the officials, who asked not to be identified. Any legal challenge is expected to come by Friday, when Rite Aid’s $27.50-a-share tender offer for 35 million Revco shares expires. The FTC is meeting today to consider possible action. “We are hopeful that a positive resolution with the FTC will occur by the expiration date,” Rite Aid said.