Harris Teeter shareholders sue over Kroger deal - WJBF-TV ABC 6 Augusta-Aiken News, Weather, Sports

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

 

  • North Carolina NewsMore>>

  • Missionary groups call for evacuation from Liberia

    Missionary groups call for evacuation from Liberia

    Tuesday, July 29 2014 8:19 PM EDT2014-07-30 00:19:57 GMT
    Dr. Kent Brantly of Samaritan’s Purse cares for a patient at the case management center on the campus of ELWA Hospital in Monrovia. (Samaritan's Purse)Dr. Kent Brantly of Samaritan’s Purse cares for a patient at the case management center on the campus of ELWA Hospital in Monrovia. (Samaritan's Purse)
    Two North Carolina-based missionary groups have ordered the evacuation of their non-essential personnel from Liberia after a doctor and a missionary contracted Ebola.
    Two North Carolina-based missionary groups have ordered the evacuation of their non-essential personnel from Liberia after a doctor and a missionary contracted Ebola.
  • Officials: Jail escapees held detective at gunpoint, stole vehicle and weapons

    Officials: Jail escapees held detective at gunpoint, stole vehicle and weapons

    Tuesday, July 29 2014 6:37 PM EDT2014-07-29 22:37:42 GMT
    Calvin and Phillip Metcalf were being held on larceny charges on Tuesday morning when they held an Avery County detective at gunpoint and escaped custody.
    Calvin and Phillip Metcalf were being held on larceny charges on Tuesday morning when they held an Avery County detective at gunpoint and escaped custody.
  • NC man arrested in 20-year-old rape case

    NC man arrested in 20-year-old rape case

    Tuesday, July 29 2014 6:37 PM EDT2014-07-29 22:37:26 GMT
    Charlotte-Mecklenburg Police detective say they have arrested a man for his part in a 20-year-old sexual assault case.
    Charlotte-Mecklenburg Police detective say they have arrested a man for his part in a 20-year-old sexual assault case.
Powered by WorldNow

1336 Augusta West Parkway
Augusta, GA 30909

Telephone: 706.722.6664
Email: talkback6@wjbf.com

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