Harris Teeter shareholders approve sale to Kroger
Harris Teeter said its shareholders voted overwhelmingly today to approve a sale of the supermarket chain to The Kroger Co.
The deal was announced on July 8.
Nearly 99 of the votes cast at a special meeting near Charlotte were voted in favor of the $2.4 billion sale. That represented about 83 percent of Harris Teeter’s total common stock.
Stockholders are getting $49.38 for each share owned.
When the sale is finalized, most likely this quarter, Harris Teeter will become a wholly owned subsidiary of Ohio-based Kroger.
The Kroger buyout approval follows last month’s announcement that Harris Teeter is buying six supermarkets in the Charleston region and a future site on the Isle of Palms from Piggly Wiggly.
Matthews, N.C.-based Harris Teeter already has seven stores in the local area.