On October 21, 2024, The Kroger Co. (KR, Financial) announced an extension of the expiration date for its previously announced exchange offers and consent solicitations. These offers involve exchanging any and all outstanding notes issued by Albertsons Companies, Inc. and its affiliates for up to $7.44 billion in new notes issued by Kroger, along with cash considerations.
The extension moves the expiration date from October 22, 2024, to October 28, 2024, at 5:00 p.m. New York City time. This strategic extension is part of Kroger's preparation for a pending merger with Albertsons Companies, which will see Albertsons become a wholly owned subsidiary of Kroger.
The exchange offers and consent solicitations are being conducted in a private offering, exempt from registration under the Securities Act of 1933. The settlement of these offers is contingent upon the successful closing of the merger and is expected to occur promptly after the new expiration date.
This move underscores Kroger's commitment to strategically align its financial operations in anticipation of the merger, aiming to streamline the integration process and enhance shareholder value.
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