Friday, July 15, 2011

Rite Aid Stock Falls on Bribe Charge

Carolyn J. Lukensmeyer, Governor [Richard F. Celeste]'s chief of staff, said Rite Aid representatives and pharmacy board officials met on March 28 with Richard Murray, a Celeste aide, ''to work out business details related to the transfer of ownership.'' She said there was no mention of an appointment to the board at the meeting. But she said a board staff member had said then that Rite Aid had told Mr. [Melvin Wilczynski] its ''monetary proposal included an agreement that Wilczynski resign from the pharmacy board.'' Walter Loeb at Morgan Stanley said ''some people are speculating that there could be a takeover or buyout of Rite Aid'' if the Ohio charges lead to changes in the company's management. He added, ''In my opinion, this is disruptive but not necessarily a negative long-term situation.''

Full text: New York Times, May 2, 1989

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