- As expected, Harris Teeter shareholders voted Thursday on Kroger's $2.44 billion offer to acquire the food retail chain, and 83% voted to accept the deal.
- The shareholders also voted (with 72% in favor) to allow so-called “golden parachute” compensation packages for Harris Teeter executives, including up to a $262,500 bonus and about $16 million in other rewards for CEO Thomas Dickson, when the deal closes.
- The deal could close by this year's fourth quarter, though regulators will still have to approve it.
The yes vote didn't come as a big surprise, but it does show that most of Harris Teeter's shareholders aren't jumping in to support a lawsuit that was launched to block the acquisition. It can be difficult to secure an acquisition without ruffling any shareholder feathers at all, but right now, this Kroger/Harris Teeter deal seems to be in pretty good shape.