Seven states and the District of Columbia have adopted the most expansive laws legalizing marijuana for recreational use. Most recently, California, Massachusetts, Maine and Nevada all passed measures in November legalizing recreational marijuana.
It also would be Kroger's biggest takeover since 1998, when it bought the Fred Meyer food and merchandise store chain in the Northwest for more than $12 billion, according to financial data service Bloomberg.
Fresh Market, which has struggled amid increasing natural and organic grocery competition, put itself in play last fall when it announced it had retained JPMorgan as its financial advisor to explore various options. On Thursday, Kroger is scheduled to report fourth-quarter earnings before the market opens. Investors will be looking for an update on its acquisition of Midwest regional grocer Roundy's, an $800 million deal completed in December.