On Friday, shares of Albertsons (NYSE: ACI), were down in morning trading as the food and drug retailer announced that Kroger (KR) would be acquiring the company for $24.6 billion or at $34.10 per share.
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As a part of this acquisition, Albertsons will also pay a special cash dividend of up to $4 billion to its stockholders. This cash dividend will be payable on November 7 to shareholders of record as of the close of business on October 24, 2022.
This acquisition is expected to close in early 2024.