RAD and Walgreens agree to terminate merger (per Bloomberg TV)

Just broke on Bloomberg. RAD jumped 11% on the news but reversed and now has dropped nearly 10% 20% premarket.

From the press release:

Rite Aid Enters Into an Agreement with Walgreens Boots Alliance to Sell 2,186 Rite Aid Stores and Related Assets for $5.175 Billion

• Rite Aid and Walgreens Boots Alliance Mutually Agree to Terminate Previous Agreement Under Which Walgreens Boots Alliance Was to Acquire All Outstanding Shares of Rite Aid       

• Rite Aid to Receive $325 Million Termination Fee

• Asset Sale Repositions Rite Aid as an Independent, Multi-Regional Drugstore Chain and Pharmacy Benefits  Manager With Compelling Footprint in Key Markets and Strong Financial Position

• Proceeds to Be Used to Significantly Reduce Debt and Strengthen Balance Sheet 

• Agreement Provides Rite Aid With 10-Year Pharmaceutical Purchase Option Through WBA Affiliate

• Company Reports Fiscal 2018 First Quarter Results