On December 2, 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 the exchange of any and all outstanding notes issued by Albertsons Companies, Inc. and its affiliates for up to $7.44 billion in new notes to be issued by Kroger, along with cash considerations.
The extension moves the expiration date from December 3, 2024, to December 9, 2024, at 5:00 p.m. New York City time. This extension is part of Kroger's strategic preparations for its 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. They are contingent upon the successful closing of the merger. Settlement of these offers is expected to occur promptly after the new expiration date, aligning with the merger's closing timeline.
This move underscores Kroger's commitment to strategically align its financial operations in anticipation of the merger, aiming to enhance its market position and operational synergies post-merger.
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