Aug 8 (Reuters) - Drug store chain Rite Aid Corp and U.S. grocer Albertsons Companies Inc said on Wednesday they agreed to terminate their merger agreement.

Under the settlement agreement, neither of the companies would be responsible for any payments as a result of the termination, Rite Aid said in a statement.

The drug store chain also said it was evaluating governance changes at the company.

(Reporting by Mekhla Raina in Bengaluru)