C&S, SoftBank Near Deal To Purchase Stores From Kroger, Albertsons: Report
Portfolio Pulse from Lekha Gupta
C&S Wholesale Grocers, backed by SoftBank Corp (SFBQF), is reportedly nearing a deal to buy stores from The Kroger Company (KR) and Albertsons Companies, Inc. (ACI). The move is aimed at gaining regulatory approvals for Kroger and Albertsons' imminent $24.6 billion acquisition. The transaction value and store count are unknown. ACI shares are trading higher by 1.55% at $22.90, and KR shares are up 0.18% at $45.10 premarket.
September 06, 2023 | 12:55 pm
News sentiment analysis
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NEUTRAL IMPACT
SoftBank Corp is backing C&S Wholesale Grocers in a deal to buy stores from Kroger and Albertsons. The impact on SoftBank's stock is uncertain.
SoftBank's backing of C&S Wholesale Grocers in this deal could potentially impact its stock. However, without more details on the deal, it's difficult to predict the exact impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Albertsons is selling stores to C&S Wholesale Grocers, backed by SoftBank, to gain regulatory approval for its acquisition with Kroger. ACI shares are trading higher by 1.55% premarket.
The sale of stores is a strategic move by Albertsons to gain regulatory approval for its acquisition with Kroger. This news is likely to have a positive impact on ACI's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Kroger is selling stores to C&S Wholesale Grocers, backed by SoftBank, to gain regulatory approval for its acquisition with Albertsons. KR shares are up 0.18% premarket.
The sale of stores is a strategic move by Kroger to gain regulatory approval for its acquisition with Albertsons. This news is likely to have a positive impact on KR's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100