WMT - Kroger Reveals Divestiture Plan For Albertsons Merger Approval: Report | Benzinga
Kroger Co. (NYSE:KR) has reportedly revealed the comprehensive list of stores, distribution centers, and plants it plans to divest to gain regulatory approval for its proposed merger with Albertsons Companies Inc (NYSE:ACI).
The announcement comes as the companies prepare for a trial in August that will determine the fate of their $24.6 billion merger.
Employees at the affected locations have been notified, according to a memo from Chief Executive Officer Rodney McMullen, reported Bloomberg.
Impacted workers will transition to becoming employees of C&S Wholesale Grocers after the deal closes but will remain under Kroger and Albertsons until then, the report added.
C&S has pledged to transfer existing ...