Kroger to buy Harris Teeter for about $2.44B - DC News FOX 5 DC WTTG

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.

  • Viral StoriesMore>>

  • New Americans turn to goats to address food demand

    New Americans turn to goats to address food demand

    Friday, April 18 2014 12:26 PM EDT2014-04-18 16:26:04 GMT
    COLCHESTER, Vt. (AP) -- A bunch of kids in a minivan are solving twin challenges in northern Vermont: refugees struggling to find the food of their homelands and farmers looking to offload unwanted livestock. The half dozen kids - that is, baby goats - that arrived last week at Pine Island Farm were the latest additions to the Vermont Goat Collaborative, a project that brings together new Americans hungry for goat meat with dairy goat farmers who have no need for young male animals. Some dai...
    COLCHESTER, Vt. (AP) -- A bunch of kids in a minivan are solving twin challenges in northern Vermont: refugees struggling to find the food of their homelands and farmers looking to offload unwanted livestock. The half dozen kids - that is, baby goats - that arrived last week at Pine Island Farm were the latest additions to the Vermont Goat Collaborative, a project that brings together new Americans hungry for goat meat with dairy goat farmers who have no need for young male animals. Some dai...
  • Bodies of 2 men found dead in DC

    Bodies of 2 men found dead in DC

    Thursday, April 17 2014 7:22 AM EDT2014-04-17 11:22:40 GMT
    Police in the district are investigating after the bodies of two men who were found dead Wednesday.
    Police in the district are investigating after the bodies of two men who were found dead Wednesday.
  • Caught On Tape: Intruder creeps through home, lurks over crib

    Caught On Tape: Intruder creeps through home, lurks over crib

    Wednesday, April 16 2014 1:08 PM EDT2014-04-16 17:08:32 GMT
    FOX NEWS INSIDER - A home surveillance system caught an intruder lurking through a home while a family slept. At one point, the male intruder is shown in a child's room while a two-year-old boy is asleep
    FOX NEWS INSIDER - A home surveillance system caught an intruder lurking through a home while a family slept. At one point, the male intruder is shown in a child's room while a two-year-old boy is asleep
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

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