Supermarket giant Kroger ( KR) has joined the field seeking to buy the Albertson's ( ABS) grocery chain, according to published reports.
There are five bidders, according to The New York Times. They include consortiums led by investment groups, including one led by Kohlberg Kravis Roberts, one by Thomas H. Lee Partners and another by the Yucaipa Companies, the Times' Web site reported. The bids all are in the high-$20s-a-share range, according to the Times. Shares of Albertson's, based in Boise, Idaho, closed Friday at $24.06, higher by $1.29, or 5.67%. Shares of Cincinnati-based Kroger closed Friday at $19.80, down 1 cent in NYSE trading.