Here’s more information from the Associated Press:
Kroger, the country’s largest traditional supermarket operator, said Tuesday that it has agreed to buy Harris Teeter Supermarkets Inc. for about $2.44 billion in cash.
The deal expands Cincinnati-based Kroger’s store base in the southeastern and mid-Atlantic markets and increases the number of states it operates in by three to 34.
Under the terms of the agreement, Kroger will pay $49.38 for each of the fellow supermarket chain’s shares. The price represents a 2 percent increase over the company’s Monday closing stock price.
“This is a financially and strategically compelling transaction and a unique opportunity for our shareholders and associates,” Kroger Chairman and CEO David Dillon said in a statement.
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The closest Harris Teeter stores to Roanoke are in Charlottesville and Greensboro, N.C.
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