Kroger Co. (NYSE:KR) has announced the extension of the expiration date for its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes. The company has extended the expiration date from 5:00 p.m. New York City time on September 17, 2024, to 5:00 p.m. New York City time on September 23, 2024. As of August 29, 2024, the requisite number of consents were received to adopt the proposed amendments with respect to the consented series, and the relevant parties had executed supplemental indentures to the applicable ACI indentures implementing the proposed amendments.
The exchange offers and consent solicitations are being made for up to $7,441,608,000 aggregate principal amount of new notes to be issued by Kroger and cash. The settlement of the exchange offers and consent solicitations is expected to occur promptly after the expiration date and is expected to occur on or promptly after the closing date of the merger between a wholly owned subsidiary of the company and ACI, with ACI surviving the merger as a direct, wholly owned subsidiary of Kroger. The merger is expected to close during the fourth quarter of calendar year 2024.
The Kroger notes offered in the exchange offers have not been registered under the Securities Act of 1933, as amended, or any state securities laws.
Kroger is a company with nearly 420,000 associates who serve over eleven million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names. They serve America through food inspiration and uplift, and are dedicated to creating #zerohungerzerowaste communities. Following these announcements, the company's shares moved 0.7%, and are now trading at a price of $56.3. If you want to know more, read the company's complete 8-K report here.
