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Kroger, Harris Teeter Deal To Close Sooner Than Expected

Kroger and Harris Teeter

The Federal Trade Commission has granted early approval regarding The Kroger Co.’s acquisition of Harris Teeter Supermarkets Inc. The deal, valued at about $2.5 billion, is expected to close by the end of January. The original close date was scheduled for early February.

Kroger and Harris Teeter in July announced the definitive merger agreement, which was approved by the boards of directors of both companies. On Oct. 3, Harris Teeter shareholders approved the merger agreement. At the closing of the merger, Harris Teeter shareholders will receive $49.38 in cash for each share of Harris Teeter common stock they own.

Harris Teeter, headquartered in Matthews, N.C., operates more than 200 stores in North Carolina, South Carolina, Virginia, Georgia, Tennessee, Maryland, Delaware, Florida and the District of Columbia. Cincinnati-based Kroger has said Harris Teeter will retain its name and operations.

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