Harris Teeter approves sale to Kroger - The Packer

Harris Teeter approves sale to Kroger

10/04/2013 10:32:00 AM
Pamela Riemenschneider

KrogerShareholders for Matthews, N.C.-based Harris Teeter Inc. nearly unanimously approved the company’s merger with Cincinnati-based Kroger Co., with 98.6% of those present at an Oct. 3 meeting voting in favor of the deal.

The transaction is subject to closing conditions and waiting period, the company said in a news release. Closing is expected in the fourth quarter of 2013.

Under the terms of the agreement, shareholders receive $49.38 per share, and after the transaction Harris Teeter will be a wholly-owned Kroger subsidiary.

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