Mega-merger: Kroger will buy Albertsons for $24 billion in bid to create 'national footprint'

Kroger announced on Friday that it was entering into a merging deal with rival supermarket chain Albertsons, one that the company said will establish a national brand of grocery stores throughout the United States.

Kroger said in a press release on Friday that the two grocers "announced that they have entered into a definitive agreement under which the companies will merge two complementary organizations ... to establish a national footprint" of grocery retail. 

Under the merger, Kroger "will acquire all of the outstanding shares of Albertsons Companies, Inc. common and preferred stock," which Kroger said would go for $34.10 per share at "a total enterprise value of approximately $24.6 billion."

The two companies currently employ over 700,000 employees and run nearly 5,000 stores, including within those nearly 5,000 pharmacies and over 2,000 fuel centers. 

Albertsons will also pay out a $4 billion dividend to its shareholders as part of the agreement.