Harris Teeter shareholders sue over Kroger deal - WRBL

Harris Teeter shareholders sue over Kroger deal

Posted: Updated:
Wikimedia Commons Wikimedia Commons
CHARLOTTE, N.C. -

Harris Teeter shareholders have sued to block the purchase of the North Carolina grocery chain by the Kroger Co. of Cincinnati.
    
The Charlotte Observer reports the lawsuit was filed in Mecklenburg County on Tuesday.
    
The lawsuit says that Matthews-based Harris Teeter failed to get a high enough premium to its closing price.
    
Kroger agreed to buy Harris Teeter for $49.38 per share in cash, a 1.8 percent premium to the stock's closing price the day before.
    
That price is about 34 percent higher than Harris Teeter's stock was when rumors of a deal began six months ago.
    
The attorneys are asking a judge to block the transaction or award shareholders damages and attorneys' fees.
    
A spokeswoman for Harris Teeter did not have a comment on the lawsuit early Thursday.

Harris Teeter has a massive presence in central North Carolina. According to its website, the chain has:

* 10 stores in Raleigh

* Eight stores in Cary

* Four stores in Chapel Hill

* Four stores in Durham

* Two stores in Fuquay-Varina

* Two stores in Holly Springs

* Two stores in Wake Forest

* Two stores in Fayetteville

* One store in Apex

* One store in Morrisville

* One store in Carrboro

* One store in Wilson

* One store in Rocky Mount

 

  • Trending StoriesTrending StoriesMore>>

  • DOT fixes sign for new 485 flyover that spelled Pineville wrong

    DOT fixes sign for new 485 flyover that spelled Pineville wrong

    Friday, July 25 2014 1:40 PM EDT2014-07-25 17:40:30 GMT
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
  • 2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    Friday, July 25 2014 9:00 AM EDT2014-07-25 13:00:14 GMT
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
  • VIRAL VIDEO: If you own a dog, prepare to happy cry

    If you own a dog, prepare to happy cry

    The video says it all.
    The video says it all.
Powered by WorldNow

1350 13th Avenue
Columbus, GA 31901

Telephone: 706.323.3333
Fax: 706.327.6655
Email: news@wrbl.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.