Kroger Extends Exchange Offers and Consents, Shares Down 2.2%

By Bobby Samwell • Monday, December 02 10:23 • Permanent Link

Kroger Co. (NYSE:KR) has extended the expiration date of the exchange 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, as well as cash. The expiration date has been extended from 5:00 p.m. New York City time on December 3, 2024, to 5:00 p.m. New York City time on December 9, 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 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 exchange offers and consent solicitations are being made pursuant to the terms and subject to the conditions described in the confidential offering memorandum and consent solicitation statement dated August 15, 2024. The complete terms and conditions of the exchange offers and consent solicitations are available through the exchange agent and information agent.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. The exchange offers and consent solicitations are being made solely pursuant to the offering memorandum and only to such persons and in such jurisdictions as are permitted under applicable law.

Kroger Co. serves over eleven million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names, aiming to create #zerohungerzerowaste communities. Today the company's shares have moved -2.2% to a price of $59.75. For the full picture, make sure to review Kroger's 8-K report.

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