FRED MEYER INC. ANNOUNCES PUBLIC OFFERING
FRED MEYER INC. ANNOUNCES PUBLIC OFFERING PORTLAND, Ore., April 7 /PRNewswire/ -- Fred Meyer Inc.
(NASDAQ-NMS: MEYR) announced today the public offering of 4,000,000 shares of common stock at a price of $24 per share. The offering, which will be made only by prospectus, will consist of 2,000,000 shares sold by the company and 2,000,000 shares sold by an affiliate of Kohlberg Kravis Roberts & Co. L.P. Of the 4,000,000 shares of common stock, 3,200,000 are being offered domestically and 800,000 are being offered internationally. In addition, the affiliate of Kohlberg Kravis Roberts & Co. L.P. has granted the underwriters an option for 30 days to purchase up to an additional 600,000 shares.
The company intends to use the net proceeds from the sale of its shares to reduce borrowings under its unrated commercial paper programs and bank credit agreement. Fred Meyer Inc., headquartered in Portland, Ore., is a leading regional retailer of a wide range of general merchandise, food, apparel, fine jewelry and home improvement products. The company currently operates 122 stores, including 94 large multi-department stores, in Oregon, Washington, Utah, Alaska, Idaho, California and Montana. -0- 4/7/92 /CONTACT: Kenneth Thrasher of Fred Meyer, 503-232-8844/ (MEYR) CO: Fred Meyer Inc. ST: Oregon IN: REA SU: OFR
LM-TB -- SE003 -- 5801 04/07/92 11:31 EDT
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|Date:||Apr 7, 1992|
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