ABC 22 News Team
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Low:51 Winds: N 4-8 mph
Tomorrow: Clearing Out through the Day - Much Cooler.
High: 66 Winds: N 3-6 mph
Wednesday: A Little Warmer - Looking Fantastic!!!
Kroger to Buy Harris Teeter Supermarkets for $2.4 Billion
CINCINNATI (AP) -- Kroger says it has agreed to buy Harris Teeter Supermarkets Inc. for about $2.44 billion in cash.
Kroger will pay $49.38 for each of its rival supermarket chain's shares. The price represents a 2 percent increase over the company's Monday closing stock price. The deal has been approved by both companies' boards.
Matthews, N.C.-based Harris Teeter operates 212 stores in southeastern and mid-Atlantic markets, along with a pair of distribution centers and a dairy facility. Its fiscal 2012 revenue totaled about $4.5 billion.
Cincinnati-based Kroger Co. says it expects the deal to result in cost savings of $40 million to $50 million over the next three to four years.
Kroger will finance the deal with debt and plans to assume Harris Teeter's outstanding debt of about $100 million.
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Major business and economic events scheduled for Tuesday
WASHINGTON (AP) -- Federal Reserve policymakers begin a two-day meeting to set interest rates today, but today's one major economic report isn't likely to spur them to raise rates.
WEST PALM BEACH, FL -- (Marketwired) -- 03/21/14 --
Companies that pride themselves on being eco-friendly may have conflicted
ideas between marketing with ad specialties and maintaining their green
"DANCING WITH THE STARS"-SEASON 19 DEBUT
LOS ANGELES (AP) -- Season 19 of "Dancing With the Stars" debuts with some surprisingly good performances.
LOS ANGELES (AP) -- Stoner comic Tommy Chong came out smokin' last night -- on the dance floor.
IN THE NEWS: PRE-OPRDERS ON iPHONES
NEW YORK (AP) -- If you haven't already ordered one of those new, bigger iPhones -- chances are you won't get your hands on one right away.
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