Albertsons enters merger agreement with Kroger; major stockholders consent
Albertsons Companies, Inc.
Albertsons signed merger agreement with Kroger on Oct 13, 2022; Merger Sub will merge into Albertsons, which will become Kroger subsidiary.
Cerberus affiliates entered Support Agreements agreeing to consent to merger; delivered written consent by Oct 18, 2022 for 6,498,880 shares.
Director Shant Babikian resigned Oct 14, 2022; resignation not due to any disagreement with company.
Amendment to Series A Preferred Stock: Merger Agreement not a Fundamental Change; HPS consent right revised to require ≥25% of preferred held as of Oct 19.
Holders of 55.4% of common stock (296M shares) and 87% of preferred stock (584K shares) gave written consent; no further stockholder approval needed.
On October 14, 2022, Shant Babikian, a director of the Company and a nominee of HPS Investment Partners, LLC (“HPS”), resigned from the Board of Directors
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Shant Babikian resigned as Director at Albertsons Companies, Inc..
Action
resigned
Role
Director
Exact text from the filing
On October 14, 2022, Shant Babikian, a director of the Company and a nominee of HPS Investment Partners, LLC (“HPS”), resigned from the Board of Directors
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