Kroger (KR)/ Vitacost (VITC) Deal Called 'Smart' at Deutsche Bank
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Vitamin Shoppe (VSI), GNC (GNC) Lower Following Kroger, Vitacost.com Deal (KR) (VITC)
July 2, 2014 10:08 AM EDTVitamin Shoppe (NYSE: VSI) and GNC (NYSE: GNC) are lower following a noted M&A deal in the segment.
Kroger (KR) to Acquire Vitacost (VITC) for $8/Share
July 2, 2014 8:01 AM EDTThe Kroger (NYSE: KR) and Vitacost.com, Inc. (Nasdaq: VITC) announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Vitacost.com for $8.00 per share in cash, or approximately $280 million.
The purchase price represents a premium of 51% to Vitacost.com's closing share price on Feb. 19, 2014, the day before a major Vitacost.com shareholder publicly asked the company to evaluate strategic alternatives. The terms of the agreement were unanimously approved by the Boards of Directors of both companies.
Under the terms of... More
