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Harris Teeter Shareholders OK Kroger Deal
MATTHEWS, N.C. — Harris Teeter Supermarkets on Thursday said shareholders voted nearly unanimously in favor of the company’s proposed sale to Cincinnati-based Kroger Co.
October 3, 2013
1 Min Read
MATTHEWS, N.C. — Harris Teeter Supermarkets on Thursday said shareholders voted nearly unanimously in favor of the company’s proposed sale to Cincinnati-based Kroger Co.
Approximately 98.6% of the votes cast at Thursday’s special meeting were in favor of the merger agreement, representing approximately 82.5% of Harris Teeter’s outstanding common stock.
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“We are pleased with the outcome of the vote, which moves us an important step closer to finalizing our merger transaction,” a Kroger spokesman told SN. “We look forward to welcoming Harris Teeter to the Kroger family of companies.”
As previously reported, Kroger has agreed to pay $49.38 per share in cash for each share of Harris Teeter stock, or about $2.5 billion including assumption of $100 million in Harris Teeter debt.
The transaction remains subject to antitrust review under the Hart-Scott-Rodino Act. Harris Teeter said it continues to expect that the transaction will close in the fourth quarter of this year.
Read more: Harris Teeter Advises Against Union
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