Lawsuit filed over Harris Teeter buyout

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WHAS11.com

Posted on July 18, 2013 at 7:08 PM

(WHAS11) -- A lawsuit has been filed over Kroger's purchase of grocery store chain Harris Teeter.

Harris Teeter stockholders have sued to block the $2.5 billion deal saying the chain didn't get a high enough premium for its closing price.

Kroger agreed to buy Harris Teeter for $49.38 per share in cash, which is a 1.8% premium to the stock's closing price the day before.

The attorneys are asking a judge to block the transaction or award shareholders damages and attorney's fees.

 

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