Kroger To Pay $2.5B For Harris Teeter Supermarkets

Law360, New York (July 9, 2013, 11:57 AM EDT) -- The Kroger Co., the largest supermarket operator in the U.S., has agreed to acquire mid-Atlantic retail chain Harris Teeter Supermarkets Inc. and its 212 stores in a $2.5 billion cash deal, both companies announced Tuesday.

Kroger will pay Harris Teeter stockholders $49.38 per share in cash, the supermarket companies said. The offer is a 33.7 percent premium to Harris Teeter's closing price Jan. 18, when reports surfaced that the Matthews, N.C.-based firm was considering strategic alternatives including a sale.

The boards of both companies have approved...
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