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☆ Kroger Pauses Buybacks to Prioritize Debt Reduction After Albertsons Deal Closes
  + stars: | 2022-10-14 | by ( Kristin Broughton | ) www.wsj.com   time to read: +4 min
The blockbuster transaction comes amid a slowdown in deal making, economic uncertainty and concerns among investors about companies that carry high levels of debt. Cincinnati-based Kroger said Friday that it will pay for the $24.6 billion deal with cash and proceeds from a new debt financing. The company secured a 364-day, $17.4 billion bridge loan from Citigroup Inc. and Wells Fargo & Co., it said in a securities filing. Kroger will temporarily pause buybacks with the goal of giving priority to debt reduction after the transaction closes, the company said Friday. The company on Friday didn’t say what its leverage ratio will be after the transaction closes.
☆ Albertsons Seeks Online Safety With Kroger
  + stars: | 2022-10-13 | by ( Jinjoo Lee | ) www.wsj.com   time to read: 1 min
Supermarket giant Albertsons ‘ potential combination with Kroger makes a lot of sense. So much sense, in fact, that perhaps investors shouldn’t bank on it just yet. Albertsons’ stock price jumped more than 11% after reports emerged on Thursday that Kroger was in talks to combine with Albertsons. Kroger’s shareholders were less enthused and its shares dipped slightly.
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