by Christopher Freeburn | February 22, 2013 10:48 am
Sources tell Bloomberg that a Dutch supermarket operator has indicated a interest in acquiring Harris Teeter Supermarkets (NYSE:HTSI).
While no bid has yet been made, Royal Ahold has reportedly communicated its interest to JPMorgan Chase (NYSE:JPM), which is advising Harris Teeter on a potential deal. Harris Teeter has a market value north of $2 billion.
Earlier this month, Harris Teeter announced that it would explore the possibility of a sale after two unnamed private equity firms expressed an interest in buying the chain. Harris Teeter generated $4.54 billion in revenue last year from more than 200 supermarkets across eight southeastern states and Washington, D.C.
Royal Ahold owns the Stop & Shop supermarket chain in the U.S. A Rabobank analyst called the acquisition of Harris Teeter by the Dutch company a “likely deal.”
Other potential bidders for Harris Teeter include Kroger (NYSE:KR) and Publix.
Shares of Harris Teeter rose more than 1% in Friday morning trading.
Source URL: http://investorplace.com/2013/02/dutch-giant-exploring-harris-teeter-buyout/
Short URL: http://invstplc.com/1fse1hk
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.