Mergers and acquisitions are often about strategy and competition. For private equity investors its often about finding an accessible avenue for exiting an investment and a lucrative payoff for what can even be a relatively short-lived transaction. This week drug store chain Rite Aid announced that it would purchase Envision Pharmaceutical Services, a pharmacy benefit management services company. The big winner in the transaction could prove to be TPG Capital, the Texas PE firm that bought Envision less than two years ago for less than a billion dollars and is more than doubling its investment with the sale to Rite Aid.
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