Kroger Extends Exchange Offer Deadline for Albertsons Notes

MT Newswires Live11-13

Kroger (KR) said Wednesday it has extended the deadline for its offers to exchange up to $7.44 billion in Albertsons (ACI) notes for Kroger notes and cash, moving the expiration date to Nov. 20 from Nov. 14.

The related consent solicitations for amendments to Albertsons' debt agreements have also been extended, Kroger said.

The planned merger of Kroger's wholly-owned subsidiary with Albertsons, expected to close by Q4, remains a condition for the exchange and consent transactions, Kroger said. Final settlement will follow the merger's completion, it added.

KR shares were down 0.3% while ACI shares were off 1.1% in recent trading.

Price: 59.52, Change: -0.16, Percent Change: -0.27

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