Kroger to buy Harris Teeter for about $2.44B - Houston weather, traffic, news | FOX 26 | MyFoxHouston

Kroger to buy Harris Teeter for about $2.44B

Posted: Updated:

CINCINNATI (AP) -- Kroger says it has agreed to buy Harris Teeter Supermarkets Inc. for about $2.44 billion in cash.
 
Kroger will pay $49.38 for each of its rival supermarket chain's shares. The price represents a 2 percent increase over the company's Monday closing stock price. The deal has been approved by both companies' boards.
 
Matthews, N.C.-based Harris Teeter operates 212 stores in southeastern and mid-Atlantic markets, along with a pair of distribution centers and a dairy facility. Its fiscal 2012 revenue totaled about $4.5 billion.
 
Cincinnati-based Kroger Co. says it expects the deal to result in cost savings of $40 million to $50 million over the next three to four years.
 
Kroger will finance the deal with debt and plans to assume Harris Teeter's outstanding debt of about $100 million.

  • LocalMore>>

  • Feral Hogs

    Feral Hogs

    Thursday, April 24 2014 11:11 PM EDT2014-04-25 03:11:55 GMT
    Since last September, Richard Lockley's phone has helped him trap more than 120 feral hogs. The process starts when a camera mounted near the trap texts him a picture of anything that wanders inside.
    Since last September, Richard Lockley's phone has helped him trap more than 120 feral hogs. The process starts when a camera mounted near the trap texts him a picture of anything that wanders inside.
  • Crowned Brunch: Empowering Women through Fitness

    Crowned Brunch: Empowering Women through Fitness

    Thursday, April 24 2014 11:01 PM EDT2014-04-25 03:01:03 GMT
    She’s recognized for her variety of yoga poses and 15 seconds workout video that she shares with her Instagram followers.
    She’s recognized for her variety of yoga poses and 15 seconds workout video that she shares with her Instagram followers.
  • Kansas City Man with Murder tattoo on neck wants fair Murder trial

    Kansas City Man with Murder tattoo on neck wants fair Murder trial

Powered by WorldNow

KRIV FOX 26
4261 Southwest Freeway
Houston, TX 77027

Phone: (713) 479-2801
Fax: (713) 479-2859

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices