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(ZEROHEDGE) – After endless years of speculation about an eventual deal for grocery giant Kroger, it looks as though the chain is doing a deal of its own. Except, in this deal, Kroger isn’t the acquiree, it’s the acquirer, announcing this week a $24.6 billion combination with grocer Albertsons.
The combination puts Kroger on a par – in size and sales – with names like Walmart. The tie up results in Kroger having almost 5,000 stores and annual revenue of about $200 billion, according to Bloomberg.
Albertsons investors will get $34.10 per share in cash, which includes a special dividend, a statement this week said. It marks a premium of about 33% to its closing price on October 12. About 375 stores are planned to be sold in a spinoff, the Bloomberg report says.
