Kroger Co. (NYSE: KR) has announced an extension of the expiration date for its previously announced offers to exchange any and all outstanding notes of Albertsons Companies, Inc. (NYSE: ACI) for up to $7,441,608,000 aggregate principal amount of new notes to be issued by Kroger and cash. The expiration date has been extended from 5:00 p.m. New York City time on October 9, 2024, to 5:00 p.m. New York City time on October 16, 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 proposed amendments will only become operative upon the settlement of the exchange offers, which is expected to occur promptly after the expiration date.
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. 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 Co. serves over eleven million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names. As a result of these announcements, the company's shares have moved -0.4% on the market, and are now trading at a price of $55.73. If you want to know more, read the company's complete 8-K report here.
