RETAILING

Consumer Suit Seeks to Halt Rite Aid-Revco Merger: A consumer class-action lawsuit filed in federal court in Cleveland seeks to block Rite Aid Corp.’s $1.8-billion takeover of Revco D.S. Inc. The takeover would create the nation’s largest drugstore chain--a colossus with $11 billion in annual sales. The suit was filed by Cleveland consumer Ruth Brady, a regular Revco customer who filed suit on behalf of all Revco customers. The suit cites federal antitrust law and seeks temporary and permanent injunctions blocking the takeover. A Rite Aid spokesman declined comment on the suit. A Rite Aid subsidiary launched a tender offer earlier this month to acquire 35.14 million shares, or 50.1%, of Revco’s common stock for $27.50 a share in cash. The remainder would be converted into Rite Aid stock in a second-step merger, according to the plan announced in November. The offer is to expire Jan. 2.