Kroger announces it's merging with Albertsons in a $24.6 billion deal, creating one of the largest grocery store chains in the US
Kroger announced it’s merging with Albertsons in a $24.6 billion deal, creating one of the largest grocery store chains in the United States with nearly 5,000 stores when combined. “The combination creates a premier seamless ecosystem across 48 states and the District of Columbia, providing customers with a best-in-class shopping experience across both stores and digital channels,” Kroger said in a press release.
7% in September from the month prior and a stunning 13% over the last year, according to new government data released Thursday. Kroger\n \n said it would buy Albertsons for $34.10 a share — a roughly 30% premium above the grocery chain’s average share price over the course of the past month. Shares of Kroger\n \n slid 2% in premarket trading, while Albertsons soared more than 11%. First approved by both of the company’s board of directors, the merger still needs regulatory approval.
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