(Reuters) – American group Kroger announced on Friday the acquisition of Albertsons Companies for $ 24.6 billion (€ 25.3 billion), in order to create a retail giant able to compete with the American number of the sector, Walmart.
Under the terms of the offer, Albertsons shareholders will receive $ 34.10 for each stock offered, which represents a premium of approximately 33% over Wednesday’s closing price, a day before Bloomberg did not mention the discussions between the two. groups.
This merger of the number one and number two independent supermarkets in the United States will bring together more than 2,200 Albertsons factories and more than 2,700 Kroger stores, including brands such as Ralphs and Fred Meyer.
However, the merger is likely to attract the attention of authorities, with some analysts believing it could hinder competition and lead to higher prices for consumers.
To allay these concerns, the two companies said they wanted to divest some stores, among other things. The new entity is expected to have between 100 and 375 plants.
“Albertsons carries a complementary footprint and operates in different areas of the country where there are very few or no Kroger stores,” said Rodney McMullen, Kroger’s chief executive. “This merger (…) accelerates our positioning as a more compelling alternative to larger, non-union competitors.”
After the completion of the transaction, which is expected to close in early 2024, Rodney McMullen will remain at the helm of the new company.
Kroger stock lost 1.46% in early Wall Street trading and Albertsons fell 5.61%. On Thursday they had taken 1.15% and 11.5% respectively in reaction to Bloomberg information.
(Aishwarya Venugopal and Deborah Sophia report in Bangalore, French version Laetitia Volga, edited by Sophie Louet)
