walgreensBrunswick Group and Finsbury are advising Walgreens' blockbuster $9.4B acquisition of Rite Aid, a major consolidation of top pharmacy chains.

Deerfield, Ill.-based Walgreens Boots Alliance announced the deal Oct. 27, pegging the total enterprise value of the $9-per-share deal at $17.2B, including acquired net debt. Both boards have approved the move and will go to Rite Aid shareholders with a closing date eyed for the second half of 2016.

Walgreens expects "synergies" topping $1B. Rite Aid will initially operate under its brand name but "decisions will be made over time regarding integration" with the goal of creating a "fully harmonized portfolio of stores and infrastructure."

Regulators are expected to look closely at the transaction. Walgreens has 8,200 drugstores in the US, while Rite Aid counts 4,600.

Michael Polzin, divisional VP of corporate communications, heads US media relations for the deal for Walgreens, while Ashley Flower, senior PR manager, is on the beat for Camp Hill, Pa.-based Rite Aid. Brunswick and Finsbury in New York are outside PR counsel.

Walgreens, which also owns Duane Reade, has 8,200 drugstores in the US, while Rite Aid counts 4,600.

Walgreens Boots Alliance was formed by the merger of Walgreens and Europe's Alliance Boots in 2014.