Business
Kroger’s $24.6 billion purchase of Albertsons will create a grocery giant
Kroger
indicates they are acquiring a competitor
Albertsons
with a tie-up of about $24.6 billion that will help drive profits. But the deal could face regulatory scrutiny amid soaring inflation.
Kroger
(code: KR) will buy back all outstanding shares of
Albertsons
(ACI) at $34.10 each, implying a 32.8% premium to Albertson’s closing price on October 12, before talks on a potential merger was reported by the press. Albertsons will pay a special cash dividend of up to $4 billion to its shareholders as part of the deal.