Kroger Co. has announced an extension of the expiration date for its exchange offers and consent solicitations for Albertsons Companies, Inc. notes. The company has extended the expiration date from 5:00 p.m. New York City time on November 26, 2024, to 5:00 p.m. New York City time on December 3, 2024. The extension is subject to further extension and is part of the company's proposed amendments to the indentures governing the ACI notes.
As of August 29, 2024, the company had received the requisite number of consents to adopt the proposed amendments with respect to the consented series. 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 exchange offers and consent solicitations are being made pursuant to the terms and conditions described in the confidential offering memorandum and consent solicitation statement dated August 15, 2024. 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. Therefore, the Kroger notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and any applicable state securities laws.
Kroger Co. is dedicated to its purpose of feeding the human spirit and serves over eleven million customers daily through a seamless digital shopping experience and retail food stores under various banner names. The market has reacted to these announcements by moving the company's shares 1.0% to a price of $59.79. For more information, read the company's full 8-K submission here.
