WJTV News Channel 12 - Harris Teeter shareholders sue over Kroger deal

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>>

  • Couple arrested for having sex on Cortez Beach in front of beachgoers

    Couple arrested for having sex on Cortez Beach in front of beachgoers

    Tuesday, July 22 2014 1:08 PM EDT2014-07-22 17:08:35 GMT
    Bradenton Beach police officers were dispatched to Cortez Beach after a few people called 911 and complained about a couple having sex publicly, right next to a little girl on the beach.
    Bradenton Beach police officers were dispatched to Cortez Beach after a few people called 911 and complained about a couple having sex publicly, right next to a little girl on the beach.
  • Largest companies by revenue in each state

    Largest companies by revenue in each state

    Thursday, July 10 2014 8:01 PM EDT2014-07-11 00:01:10 GMT
    Broadview Networks recently decided to find out the biggest -- by revenue -- company in each state in the US.The company used the Fortune 500 list to start with, but needed data by state, so it turned to Hoover's.With data from that company, they were able to search through each state's list of companies and then find the largest -- by revenue.Just flip through the list above and see who is the biggest in each state, what town they are based and their revenue.
    Broadview Networks recently decided to find out the biggest -- by revenue -- company in each state in the US.The company used the Fortune 500 list to start with, but needed data by state, so it turned to Hoover's.With data from that company, they were able to search through each state's list of companies and then find the largest -- by revenue.Just flip through the list above and see who is the biggest in each state, what town they are based and their revenue.
  • Houston school district holds 2nd job fair in Raleigh

    Houston school district holds 2nd job fair in Raleigh

    Wednesday, July 23 2014 6:27 AM EDT2014-07-23 10:27:25 GMT
    File photoFile photo
    A Texas school district is once again holding a job fair for teachers in Raleigh.
    A Texas school district is once again holding a job fair for teachers in Raleigh.
Powered by WorldNow

1820 TV Road
Jackson, MS 39204

Telephone: 601.372.6311
Fax: 804.819.5569
Email: wjtvnews@wjtv.com

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