By Dan Monk
Source: WCPO.com
The Kroger Co. and its acquisition target, Albertsons Companies Inc., have spent a combined $864 million on merger-related expenses through the first quarter of this year, according to filings with the U.S. Securities and Exchange Commission.
That represents about 3.5% of the deal’s $24.6 billion price tag and includes legal and consulting fees, financing costs and employee-retention expenses. It’s also enough money to give every Kroger and Albertsons employee a $1,200 bonus.
Those merger costs are certain to grow as the companies defend their deal at a federal antitrust hearing in Portland next month, followed by two state court cases in Colorado and Washington and an administrative hearing at the Federal Trade Commission in Washington, D.C.
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