Cincinnati-based Kroger is taking over Harris Teeter Supermarkets in a transaction valued at about $2.5 billion. The merger means Kroger will buy all outstanding shares of Harris Teeter for $49.38 per share in cash.
Harris Teeter has 212 stores in the southeastern and mid-Atlantic markets and in Washington, D.C. Those stores will maintain the Harris Teeter brand name. The company posted revenues of approximately $4.5 billion for the 2012 fiscal year.
In a release, Kroger Chairman and Chief Executive Officer David B. Dillion says:
Voters in the Lakota School District will be deciding whether to approve a levy in November. The board of education voted Monday moring to place a 5.5 mill combination levy on the ballot. 3.5 mills would go for operating expenses and 2 mills for permanent improvements.
The district says $6.3 million to improve security at its schools and $13.5 million for a multi-year technology upgrade are major components of the request. The security spending would include tripling the number of police officers in the district's schools as well as physical changes to school buildings.
The University of Cincinnati's cooperative education program is branching out with a new base in China. The university signed a memorandum of understanding Monday with Chongqing University. The agreement calls for UC to establish a Joint Co-op Institute for mechanical engineering and electrical engineering. It also offers UC's curriculum and faculty in those two majors.