On November 25, 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 26, 2024, to December 3, 2024, at 5:00 p.m. New York City time. This strategic extension is part of Kroger's ongoing efforts to facilitate the 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. These actions are contingent upon the successful closing of the merger. Settlement of the exchange offers and consent solicitations is anticipated to occur promptly following the new expiration date and the merger's closing.
This development is a significant step in Kroger's strategic plan to enhance its market position through the acquisition of Albertsons, promising potential synergies and expanded market reach for the combined entity.
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