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
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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
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