In this file:
· Kroger shareholders targeted by lowball offer
· Kroger names new diversity chief
Kroger shareholders targeted by lowball offer
Alexander Coolidge, Cincinnati.com
April 19, 2017
Kroger shareholders have been given the chance to sell their shares to a private investing firm in a "mini-tender" offer.
A Toronto-based firm, TRC Capital Corp., said it will buy up to 4 million shares for $28.70 each. The catch? Investors could sell the stock on the market for roughly $30 a share Wednesday afternoon in a regular trade.
Federal regulators strongly advise stock owners of any company subject to a mini-tender offer to proceed with caution.
The U.S. Securities and Exchange Commission warns investors that bidders behind mini-tenders "catch shareholders off guard" because their offers "may actually be below the market price." An investor not paying close enough attention might accept such a deal under the assumption they are being offered a price above market values as traditional tender offers frequently do.
Furthermore, once a stockholder accepts, they may be locked into the price and don't have the same withdrawal rights under a traditional tender.
Those offering mini-tenders "count on investors jumping to the conclusion that the price offered includes a premium," the SEC cautions.
Such offers are legal, but subject to fewer regulations. Bidding firms in mini-tenders are not required to file disclosures with the SEC or provide detailed disclosure to shareholders.
Officials at TRC Capital...
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Kroger names new diversity chief
Steve Watkins, Staff Reporter, Cincinnati Business Courier
Apr 19, 2017
Kroger Co. has named a new chief of diversity to replace the retired executive who had that role.
Angel Colón has become senior director of diversity at Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets. He also is responsible for Kroger’s supplier diversity program. Colón had been director of multicultural development for merchandising at Kroger since 2008.
Colón replaces Reuben Shaffer, who retired at the end of March as the company’s head of diversity.
Colón has held numerous leadership roles in the grocery business over the past 27 years. He has...