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Shares of Albertsons Cos. Inc. were up more than 11% in Thursday morning trading after Bloomberg News reported that Kroger Co. was in merger talks with the smaller grocer. Kroger shares were down more than 2%. The report cited anonymous sources and noted that while a deal could be hammered out as soon as this week, talks could also fall through or be delayed. Shares of Albertsons were paused for volatility at 9:52 a.m. ET, and trading resumed five minutes later. Albertsons shares have gained 4.3% over the past 12 months as the S&P 500 has declined 18%.
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