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In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 9 July 2013 [View all]xchrom
(108,903 posts)18. Kroger to buy Harris Teeter Supermarkets in $2.5 billion deal
http://uk.reuters.com/article/2013/07/09/uk-harristeeter-takeover-kroger-idUKBRE9680I220130709
(Reuters) - Kroger Co (KR.N), the biggest U.S. supermarket operator, said it would buy Harris Teeter Supermarkets Inc (HTSI.N) in a $2.5 billion deal that will boost its presence in the southeast and mid-Atlantic regions of the United States.
Regional supermarkets like North Carolina-based Harris Teeter are struggling to maintain market share against chains and mass merchandisers such as Costco Wholesale Corp (COST.O), Wal-Mart Stores Inc (WMT.N) and Whole Foods Market Inc WFM.N, leading to consolidation in the industry.
The Harris Teeter deal, which includes the assumption of $100 million of debt, is the second-largest acquisition for Kroger after its $13.89 billion purchase of Fred Meyer Inc in 1999 and the second biggest deal in the U.S. grocery industry this year.
Supervalu Inc (SVU.N) struck a $3.3 billion deal in January to reduce its heavy debt by selling five of its supermarket chains to an investor group led by Cerberus Capital Management LP CBS.UL.
(Reuters) - Kroger Co (KR.N), the biggest U.S. supermarket operator, said it would buy Harris Teeter Supermarkets Inc (HTSI.N) in a $2.5 billion deal that will boost its presence in the southeast and mid-Atlantic regions of the United States.
Regional supermarkets like North Carolina-based Harris Teeter are struggling to maintain market share against chains and mass merchandisers such as Costco Wholesale Corp (COST.O), Wal-Mart Stores Inc (WMT.N) and Whole Foods Market Inc WFM.N, leading to consolidation in the industry.
The Harris Teeter deal, which includes the assumption of $100 million of debt, is the second-largest acquisition for Kroger after its $13.89 billion purchase of Fred Meyer Inc in 1999 and the second biggest deal in the U.S. grocery industry this year.
Supervalu Inc (SVU.N) struck a $3.3 billion deal in January to reduce its heavy debt by selling five of its supermarket chains to an investor group led by Cerberus Capital Management LP CBS.UL.
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You probably have me on ignore, but I'm going to say this anyway. There were several ways to handle
A HERETIC I AM
Jul 2013
#46