Kroger (NYSE: KR) Extends Expiration Date of Exchange Offers and Consent Solicitations

On October 31, 2024, The Kroger Co. announced an extension of the expiration date for the previously announced exchange offers and consent solicitations. The company disclosed that it has extended the expiration date for the exchange offers relating to the outstanding notes issued by Albertsons Companies, Inc. (ACI) for new notes to be issued by Kroger and cash. Additionally, the expiration date for the related consent solicitations was also prolonged.

The expiration date was extended from November 1, 2024, to November 7, 2024, for both the exchange offers and consent solicitations. These actions are in connection with the pending merger between a wholly owned subsidiary of Kroger and ACI. The offers are being made under the terms described in the confidential offering memorandum dated August 15, 2024, and are exempt from registration under the Securities Act of 1933.

The settlement of the exchange offers and consent solicitations is expected to happen promptly after the extended expiration date and will likely occur around the closing date of the merger. The company mentioned that the extension allows more time for the completion of the merger and other necessary conditions.

All other terms of the exchange offers and consent solicitations remain unchanged, as stated by Kroger. The company reiterated the conditions necessary for the exchange offers and consent solicitations to conclude successfully, with settlement likely to align with the closing date of the anticipated merger.

Kroger has also highlighted that documents related to these offers will only be circulated to eligible holders of ACI Notes who complete and return an eligibility certificate confirming their status as “qualified institutional buyers” or non-U.S. individuals. Furthermore, the company informed that the Kroger Notes offered in the exchange offers have not been registered under the Securities Act of 1933.

The news of the extension was disclosed in a press release dated October 31, 2024, and underscores Kroger’s commitment to advancing its strategic initiatives and business operations in line with its purpose to Feed the Human Spirit™.

Investors and stakeholders are encouraged to stay informed about these developments by following the announcements and related press releases from Kroger regarding the exchange offers and consent solicitations.

Please note that this news article contains forward-looking statements that are subject to various risks and uncertainties. Readers are advised to refer to Kroger’s official communications and documents for a comprehensive understanding of the matter.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kroger’s 8K filing here.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.