FTC grants early termination of waiting period for Kroger, Harris Teeter deal
CINCINNATI — Kroger and Harris Teeter Supermarkets on Friday announced that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the pending merger transaction between the two companies.
The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending merger, which remains subject to other customary closing conditions. Both companies expect the transaction to be completed before the end of January.
On July 9, 2013, Kroger and Harris Teeter announced a definitive merger agreement, which was approved by the boards of directors of both companies. On Oct. 3, 2013, Harris Teeter shareholders approved of the merger agreement. At the closing of the merger, Harris Teeter shareholders will receive $49.38 in cash for each share of Harris Teeter common stock they own.
Kroger declares quarterly dividend
CINCINNATI — Kroger’s board of directors on Friday declared a quarterly dividend of 16.5 cents per share to be paid on March 1, to shareholders of record as of the close of business on Feb. 15.
In September, the company’s board of directors raised the quarterly dividend by approximately 10%, to 16.5 cents per share. Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006.
The company continues to expect an increasing dividend over time.
MidWest Gloves & Gear introduces ‘Ninja Turtles’-themed products
ST. LOUIS — MidWest Gloves & Gear — a manufacturer of garden accessories, lawn and garden footwear, boots and rainwear — has introduced a licensed line of "Teenage Mutant Ninja Turtles" garden gloves and accessories. The MidWest Ninja Turtles Garden Gloves and Gear lineup includes Gripping and Jersey Garden Gloves, Bucket Hat, Watering Can, Garden Bucket, Kneeling Pad and Garden Trowel and Cultivator.
"We are very proud to be the exclusive licensee for Nickelodeon Ninja Turtles Garden Gloves and Gear products, and are being applauded by the buyer interest and excitement for these great fun products for kids," Stephen J. Franke, president of MidWest Quality Gloves, said.
The Ninja Turtle-themed products feature the distinctive, recognizable graphics that have inspired fans for generations, the company said, adding that the colorful products are great for boys from ages 4 to 10 years.