Kroger and Harris Teeter have recently announced that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This action will help to expedite the pending merger transaction between the two companies.
The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending $2.5 billion purchase.
On July 9, 2013, Kroger and Harris Teeter announced a definitive merger agreement and on October 3, 2013, Harris Teeter shareholders overwhelmingly approved of the merger agreement, according to a press release. Harris Teeter shareholders will receive $49.38 in cash for each share of Harris Teeter common stock they own.
Both companies expect for the transaction to be complete by the end of this month.
