Target may sell Zellers script business

Target may sell the prescription business of Zellers to rival drug stores.

Target starts converting most Zellers to its own banner next year and plans to open its stores in Canada with pharmacies in 2013.

But because they’ll be closed for more than six months, Target thinks it might as well try to get some cash for the business rather than just let the customers go to other pharmacies.

The Zellers pharmacy business is valued up to $500 million.

Target’s takeover of Zellers is estimated at $2.9-billion.