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News Breaks
January 29, 2014
07:34 EDTHTSI, KRKroger completes merger with Harris Teeter
Kroger (KR) and Harris Teeter (HTSI) announced that the merger transaction between the two companies was completed on January 28. Harris Teeter shareholders will receive $49.38 per share of Harris Teeter common stock. Harris Teeter will continue to operate its stores under the Harris Teeter brand name as a subsidiary of The Kroger Co. Harris Teeter had revenues of $4.7B for 2013. Kroger intends to continue its quarterly dividend and share repurchase program while managing free cash flow to reduce the leverage taken on in this merger. Kroger continues to expect net accretion to earnings per diluted share in the range of 6c9c in the first full year after the merger. Kroger expects to achieve cost savings of approximately $40M-$50M, largely from the benefits of Kroger's enhanced scale, within the next four years. As of January 28, shares of Harris Teeter common stock ceased to trade on the New York Stock Exchange. Together, the company will operate 2,641 supermarkets and employ more than 368K associates across 34 states and D.C.
News For KR;HTSI From The Last 14 Days
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June 30, 2015
14:31 EDTKRKroger announces retirement of COO Mike Ellis
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June 25, 2015
11:35 EDTKRKroger expects an increasing dividend 'over time'
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11:34 EDTKRKroger board approves new $500M share repurchase program
Kroger's board approved a $500M share repurchase program, replacing the prior authorization, which has been exhausted. It is not expected that any purchases will be made under this new Board-authorized plan for the remainder of FY!5.
11:33 EDTKRKroger board approves 2-for-1 stock split
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11:33 EDTKRKroger increases quarterly dividend by 13.5% to 21c
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11:26 EDTKRKroger trading halted, pending news
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June 24, 2015
09:21 EDTKRUnited Natural Foods added to Best Ideas List at Wedbush
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June 23, 2015
07:27 EDTKRJefferies to hold a conference
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