Kroger to buy Harris Teeter for about $2.44B - TriCities.com: Local News

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Kroger to buy Harris Teeter for about $2.44B

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Posted: Tuesday, July 9, 2013 1:01 pm | Updated: 5:23 pm, Tue Jul 9, 2013.

NEW YORK — 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, boosting its presence in key southeastern and mid-Atlantic markets.

Under the terms of the agreement, Cincinnati-based Kroger will pay $49.38 for each of the supermarket chain's shares. The price represents a 2 percent increase over the company's Monday closing stock price.

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