CINCINNATI, OH (FOX19) - Those of you who wake up every morning and Google "Kroger stock" and "Target stock" just to get a feel for grocery world goings-on each day may have noticed a pre-market surge for both companies Friday.
Now, of course, it's quite possible nobody does that oddly specific routine each day, but here's what you would have seen:
So, why the spike? Well, it may have had something to do with a Friday morning report from Fast Company that the two were mulling a merger "as grocery wars rage."
CNBC, however, has reported that there are no talks about a merger, but meetings have taken place regarding an Internet-based delivery service:
That CNBC report, as well as a report from Forbes, touched on the recent Amazon/Whole Foods merger as well as a perceived pressure on e-commerce. Forbes reported that regardless of a merger, the Amazon threat is clear:
Kroger has already launched a Clicklist pickup service.
Our media partners at the Cincinnati Enquirer report that Kroger does have home delivery in some markets. But while Shipt could be a key asset to drawing Kroger's interest, the Enquirer reports, it has been a "notoriously picky" company with mergers and acquisitions: