Kroger is the parent company of Chicago-area grocery chain Mariano's, while Albertsons is the parent company of regional grocery mainstay Jewel-Osco.Albertsons is giving up on its merger with Kroger and it is suing the grocery chain, saying it didn't do enough to secure regulatory approval for the $24.6 billion agreement.in separate court cases. U.S.
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. Kroger willfully breached the Merger Agreement in several key ways, including by repeatedly refusing to divest assets necessary for antitrust approval, ignoring regulators’ feedback, rejecting stronger divestiture buyers and failing to cooperate with Albertsons.
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