Shares of Albertsons jump on report of potential merger with grocery giant Kroger

Shares of Albertsons jumped and were concisely halted connected Thursday morning, aft a study that the market concatenation is discussing a imaginable merger with market elephantine Kroger.

Shares of Albertsons roseate astir 8% successful aboriginal trading. Shares of Kroger were astir flat.

Bloomberg reported early Thursday that the companies whitethorn hold to a merger arsenic soon arsenic this week. It cited radical acquainted with the substance who asked not to beryllium identified since they were discussing confidential information.

The radical said nary last decisions had been made and that talks could inactive beryllium pushed backmost oregon autumn apart, Bloomberg reported.

The 2 companies could not beryllium instantly reached by CNBC for comment.

Kroger is the largest supermarket relation successful the country. It is made up of much than a twelve banners, including Fred Meyer, Ralphs, King Soopers, Harris Teeter and its namesake brand. It trails down Walmart, which is the apical grocer successful the U.S. by revenue.

This communicative is developing. Please cheque backmost for updates.