Albertsons For $24.6 Billion

Grocery Giant Merger By: ashish pokhriyal

Kroger said Friday morning it will buy Albertsons in a deal.

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Kroger is the second-largest grocer by market share in the United States.

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Behind Walmart, and Albertsons is fourth, after Costco.

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The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6 billion.

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Combined, Kroger and Albertsons employ more than 700,000 people across about 5,000 stores.

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The tie-up comes during a challenging time in the grocery industry.

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