Harris Teeter Shareholders Seek To Halt $2.5B Kroger Buy

Law360, Los Angeles (July 18, 2013, 8:36 PM EDT) -- Shareholders of Harris Teeter Supermarkets Inc. sought to block a $2.5 billion buyout offer from The Kroger Co. on Tuesday in North Carolina state court, alleging that the transaction would cheat shareholders of potential gains.

Kroger said July 9 it would buy Harris Teeter in an arrangement that would pay the Carolina-based grocer’s shareholders $49.38 per share, a 1.8 percent premium on the share price when the deal was inked, according to a complaint filed in the General Court of Justice of the State of North...
To view the full article, register now.