Federal Trade Commission Expedites Kroger Harris Teeter Deal


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Mon. January 20th, 2014 - by Jordan Okumura-Wright

<p>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.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending $2.5 billion purchase.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>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.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Both companies expect for the transaction to be complete by the end of this month.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://ir.kroger.com/phoenix.zhtml?c=106409&amp;p=irol-irhome" target="_new"> Kroger </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">