Kroger to acquire rival Albertsons in near $25 billion deal

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Kroger said it will pay $34.10 for each Albertsons share, representing a premium of about 33% to the stock’s last closing price on Wednesday, a day before media reports of a deal between the two surfaced.

The merger would create a supermarket titan, bringing together more than 2,700 Kroger stores across the United States and over 2,200 Albertsons locations.

The combined entity is expected to have annual sales of around $210 billion.