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Kroger agrees to acquire Harris Teeter

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The Kroger Co. and Harris Teeter  Supermarkets, Inc. announced Tuesday a merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash for about $2.44 billion in total.

The price is a premium of 33.7% to the Harris Teeter closing price on January 18, 2013, the first day of media reports that Harris Teeter was thinking about a merger. The terms were approved by both companies' Boards of Directors.

Harris Teeter has 212 stores in the southeastern and mid-Atlantic markets and in Washington D.C. Harris Teeter also operates distribution centers for grocery, frozen and perishable foods in Greensboro, NC and Indian Trail, NC and a dairy facility in High Point, NC and is based in Matthews, NC.

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