C&S Wholesale Grocers, backed by SoftBank Corp SFBQF, is reportedly approaching a deal to buy stores from The Kroger Company KR and Albertsons Companies, Inc. ACI.
KR and ACI are looking to sell these stores to get regulatory approvals for their imminent $24.6 billion acquisition, reported Reuters.
The transaction value and store count are unknown.
Related: Seven US State Officials Oppose Kroger's Acquisition Of Albertsons: Report
As per the report, in February, Kroger and Albertsons were in advance talks to divest a total of around 250 to 300 stores, likely worth more than $1 billion, to ease U.S. antitrust concerns over the merger.
Notably, officials of about seven U.S. states reportedly have written to the antitrust body with a proposal to stop the merger.
The FTC is conducting a federal antitrust probe into the deal, and usually, secretaries of state reportedly have a limited role in business decisions.
Price Action: ACI shares are trading higher by 1.55% at $22.90, and KR shares are up 0.18% at $45.10 premarket on the last check Wednesday.
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