On November 19, 2024, The Kroger Co. (KR, Financial) announced an extension of the expiration date for its previously announced exchange offers and consent solicitations. These offers involve exchanging any and all outstanding notes issued by Albertsons Companies, Inc. and its affiliates for up to $7.44 billion in new notes issued by Kroger, along with cash considerations.
The extension moves the expiration date from November 20, 2024, to November 26, 2024, at 5:00 p.m. New York City time. This strategic extension is part of Kroger's preparations for a pending merger with Albertsons Companies, which will see Albertsons become a wholly owned subsidiary of Kroger.
The exchange offers and consent solicitations are being conducted in a private offering, exempt from registration under the Securities Act of 1933. They are contingent upon the successful closing of the merger. Settlement of these offers is expected to occur promptly after the new expiration date, aligning with the merger's closing.
This development marks a significant step in Kroger's strategic expansion, aiming to enhance its market position through the acquisition of Albertsons Companies.
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