Closing of Kroger, Albertsons, C&S Deal Postponed
16 1월 2024 - 5:00AM
Dow Jones News
By Adriano Marchese
The proposed merger of U.S. grocery giants Kroger and
Albertsons, and sale of assets to C&S Wholesale Grocers, will
be later than previously anticipated as the companies continues
discussion with regulators.
In a joint statement on Monday, the companies said that due to
continued discussions with the Federal Trade Commission and
individual state Attorneys General, they now expect the deal to
close in the first half of Kroger's fiscal 2024.
Previously, the companies expected to close the transactions
early in the calendar year. Kroger reported its third quarter
results at the end of November.
The companies said they remain in active and ongoing dialogue
with the regulators regarding the proposed merger and divestiture
plan.
Kroger in October proposed to acquire Albertsons. Early in
September, the pair entered into a definitive agreement with
C&S Wholesale Grocers for the sale of select stores and other
assets as the two grocery giants in an effort to complete their
planned tie-up.
In response to the new timeline, the companies said that "while
this is longer than we originally thought, we knew it was a
possibility and our merger agreement and divestiture plan accounted
for such potential timing."
Kroger said it plans to invest $500 million to reduce prices
beginning the first day the merger is complete, and it has
committed to protecting union jobs, with no plans for store
closures or laying off frontline associates. Among other
investments, Kroger said it will invest an incremental $1 billion
to raise wages and comprehensive benefits for all associates
post-close.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 15, 2024 14:45 ET (19:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Albertsons Companies (NYSE:ACI)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Albertsons Companies (NYSE:ACI)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024
