Target and Kroger deny merger talks

Though rumors surfaced that retail giant Target is in talks to merge with Kroger, the  largest grocery chain in the U.S., a source close to both companies told CNBC no discussions of a merger have occurred.

Advertisement

CNBC‘s source said talks between the companies were about a possible partnership with Shipt, the same-day delivery company Target acquired in December.

Target has recently increased its attention to its grocery offerings, with online competitor Amazon acquiring Whole Foods for $13.7 billion in 2017.

More articles on business:

Amazon passes Google parent to become 2nd most valuable US firm
Federal Reserve ups interest rates to 10-year high: 5 things to know
Salesforce to buy MuleSoft in $6.5B deal: 4 things to know

Advertisement

Next Up in Uncategorized

Advertisement

Comments are closed.