Projo Biz Blog

Longs Drugs Stores Corp., the California-based pharmacy chain that agreed to be bought by Woonsocket-based CVS Caremark Corp. said the U.S. Federal Trade Commission is investigating whether an acquisition offer from Walgreen Co. would hurt competition.

The agency is seeing if a combination of Walgreen and Longs would "substantially lessen competition" at retail pharmacies in parts of California, Nevada and Hawaii, Longs said today.

The FTC requested documents related to Walgreen's proposal, which was made on Sept. 12, Longs said.

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