Core Viewpoint - The Kroger Co. has successfully obtained the necessary consents to implement proposed amendments related to certain series of outstanding notes from Albertsons Companies, Inc. as part of its ongoing Exchange Offers and Consent Solicitations [1][2]. Summary by Sections Exchange Offers and Consent Solicitations - The Exchange Offers involve the exchange of up to $7,441,608,000 aggregate principal amount of new Kroger Notes for outstanding ACI Notes [1]. - As of the Early Participation Date, $6,819,427,000 of ACI Notes have been validly tendered, representing approximately 91.64% of the total outstanding [2]. Details of ACI Notes - The table provided outlines various series of ACI Notes, including their principal amounts and the percentage tendered: - 3.250% Senior Notes due 2026: $750,000,000 outstanding, $711,722,000 tendered (94.90%) [3]. - 7.500% Senior Notes due 2026: $600,000,000 outstanding, $584,411,000 tendered (97.40%) [3]. - 4.625% Senior Notes due 2027: $1,350,000,000 outstanding, $1,313,211,000 tendered (97.27%) [4]. Amendments and Waivers - The Company has waived the condition requiring requisite consents for each series of ACI Notes, allowing for acceptance of all validly tendered ACI Notes [6]. - The consideration for the Exchange Offers has been amended to allow Eligible Holders to receive $1,000 principal amount of Kroger Notes for each $1,000 principal amount of ACI Notes tendered [7]. Consent Payments and Deadlines - Eligible Holders who tendered ACI Notes before the Early Participation Date will receive a consent payment of $1.00 per $1,000 principal amount on the Settlement Date [9]. - The consent revocation deadline occurred at the earlier of the Early Participation Date or the execution date of the supplemental indenture [8]. Merger Context - The Exchange Offers and Consent Solicitations are part of the merger process where a wholly owned subsidiary of Kroger will merge with ACI, with ACI becoming a direct subsidiary of Kroger [11]. - The closing of the merger is not contingent upon the completion of the Exchange Offers or Consent Solicitations [12]. Eligibility and Documentation - Documents related to the Exchange Offers will only be distributed to eligible holders who confirm their status as qualified institutional buyers or non-U.S. persons [13].

Core Viewpoint - Brokerage recommendations, particularly for Kroger, show a strong positive bias, with an average brokerage recommendation (ABR) of 1.71, indicating a tendency towards "Strong Buy" [1][2] Brokerage Recommendation Trends for Kroger - The current ABR for Kroger is 1.71, based on recommendations from 17 brokerage firms, with 11 of those being "Strong Buy," representing 64.7% of all recommendations [1] - Despite the positive ABR, studies indicate limited success of brokerage recommendations in guiding investors towards stocks with the best price increase potential [2] Analysis of Brokerage Recommendations - Brokerage analysts often exhibit a strong positive bias due to vested interests, leading to a disproportionate number of "Strong Buy" recommendations compared to "Strong Sell" [2][3] - The interests of brokerage firms may not align with those of retail investors, suggesting that brokerage recommendations should be used to validate independent analysis rather than as standalone guidance [3] Zacks Rank vs. ABR - Zacks Rank is a distinct measure from ABR, utilizing earnings estimate revisions to categorize stocks, while ABR is based solely on brokerage recommendations [4][5] - Zacks Rank is timely and reflects current earnings estimates, whereas ABR may not always be up-to-date [6] Current Earnings Estimates for Kroger - The Zacks Consensus Estimate for Kroger remains unchanged at $4.45 for the current year, indicating steady analyst views on the company's earnings prospects [7] - The unchanged consensus estimate has resulted in a Zacks Rank of 3 (Hold) for Kroger, suggesting caution despite the positive ABR [7]

The Federal Trade Commission (FTC) on Monday kicked off a trial amid its push to block Kroger's $25 billion merger with Albertsons by alleging the deal would undermine competition in the grocery store industry and hurt consumers. Kroger and Albertsons first announced the proposed merger in September 2023 and the companies have agreed to sell nearly 600 locations to C&S Wholesale Grocers to help the deal pass regulatory muster. Kroger has also committed to lower grocery prices by $1 billion after the deal, w ...

The Federal Trade Commission kicked off a trial on Monday in its bid to block Kroger’s $25 billion merger with Albertsons, telling a federal judge in Portland, Ore., that the deal would eliminate competition between the top grocery store chains and hit consumers’ wallets.The FTC and several states sued to block the deal in February, saying the merger would mean higher prices for consumers and less bargaining power for unionized grocery workers.FTC Chief Trial Counsel Susan Musser urged US District Judge Adr ...

CINCINNATI, Aug. 26, 2024 /PRNewswire/ -- Kroger Health, the healthcare division of The Kroger Co. (NYSE: KR), is reminding customers about the importance of helping to safeguard the health of our communities by receiving a flu, COVID-19 or RSV vaccine, available at all Kroger Family of Pharmacies and The Little Clinic locations."Vaccines are a critical tool that can help prevent the spread of diseases, maintain public health, and are one of our best defenses against these diseases," said Colleen Lindholz, ...

Collaboration carefully curated with Lisa Vanderpump's signature style CINCINNATI, Aug. 22, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) today announced the launch of Vanderpump Blooms x Bloom Haus™, a floral collection curated by businesswoman, TV personality, author and philanthropist Lisa Vanderpump. Available exclusively at Kroger Family of Stores beginning September 4, the collection brings Vanderpump's trademark elegant aesthetic to life with gorgeous floral arrangements.The Kroger Co. announced the ...

Program has granted more than $5 million in scholarship fundsCINCINNATI, Aug. 21, 2024 /PRNewswire/ -- The Kroger Co. (NYSE: KR) Foundation today announced the Kroger Scholars for the 2024-2025 academic year, awarding $300,000 to 120 students. All scholars are the children of Kroger associates and receive $2,500 toward any accredited two- or four-year college, university or vocational program. Launched in 2008, the Kroger Scholars Program has awarded more than $5 million in scholarship funds."To be selected ...

WendellandCarolyn Last year, I wrote about Kroger (NYSE:KR) and argued that it had an attractive valuation. I also liked its dividend growth record. Today, I'd only really support the latter argument. I hold the stock, and I plan to continue doing so. However, I'm not in a huge hurry to add more shares. Kroger is a great company with a long history. It has stores throughout the United States, and it sells many products under its own label. It put out a bid to buy Albertsons (ACI) for $24.6 billion in Oc ...

CINCINNATI, Aug. 20, 2024 /PRNewswire/ -- The Kroger Co. (NYSE:KR) ("Kroger" or the "Company") announced today that it has priced a public offering in an aggregate principal amount of $1.0 billion of its 4.700% Senior Notes due 2026 at a price of 99.996 percent of par (the "2026 notes"); $1.0 billion of its 4.600% Senior Notes due 2027 at a price of 99.980 percent of par (the "2027 notes"); $1.4 billion of its 4.650% Senior Notes due 2029 at a price of 99.895 percent of par (the "2029 notes"); $1.3 billion ...

Key TakeawaysKroger asked a federal court for an injunction to stop a Federal Trade Commission (FTC) proceeding to block the grocery chain's $24.6 billion acquisition of Albertsons.The FTC moved this year to prevent the sale, arguing it would limit competition and raise food prices.Kroger also announced it would offer bonds to pay for part of the cash considerations in the deal. Kroger (KR) shares declined in intraday trading Tuesday as the biggest U.S. supermarket chain launched a two-part effort to finall ...