Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal
Albertsons is giving up on its merger with Kroger a day after it was rejected in two courts and it is suing the grocery chain, saying it didn’t do enough to secure regulatory approval for the $24.6 billion agreement.
U.S. District Court Judge Adrienne Nelson issued a preliminary injunction blocking the merger Tuesday after holding a three-week hearing in Portland, Oregon. Then Judge Marshall Ferguson in Seattle issued a permanent injunction barring the merger in Washington after concluding it would lessen competition in the state and violate Washington’s consumer-protection laws.
On Wednesday Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction.
Shares of Albertsons rose more than 2% before the market open, while Kroger’s stock declined slightly.
More Stories
Today in History: December 26, massive earthquake triggers devastating tsunami
Today is Thursday, Dec. 26, the 361st day of 2024. There are five days left in the year. Today in...
Today in History: December 26, massive earthquake triggers devastating tsunami
Today is Thursday, Dec. 26, the 361st day of 2024. There are five days left in the year. Today in...
Ruark: How Trump can reward Black & Latino voters
Donald Trump won a convincing victory over Kamala Harris largely due to record support from Black and Latino men. Trump...
5 albums that should be on the best of year list
There is no Album of the Year (even if Beyoncé’s “Cowboy Carter” is as great as everyone insists!). But there...
Editorial: Biden dealing blows to his own base
The youth bloc of Democratic voters is getting hit with a bucket of cold reality from the Biden Administration as...
Bay State museums make great winter excursions
It’s cold and gray and the idea of heading outside is literally chilling. You need beauty, history, intrigue and warmth....