Albertsons sues Kroger after judge rules against grocery merger

Albertsons filed a lawsuit against its fellow supermarket operator, saying Kroger violated its contract and didn't follow through on commitments to help get the deal approved.and filed a lawsuit against its supermarket competitor, saying Kroger violated its contract and didn't follow through on commitments to help get the deal approved.

"Kroger's self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons' shareholders, associates and consumers," Albertsons' General Counsel and Chief Policy Officer Tom Moriarty said in a statement."We are disappointed that the opportunity to realize the significant benefits of the merger has been lost on account of Kroger's willfully deficient approach to securing regulatory clearance.

"This is clearly an attempt to deflect responsibility following Kroger's written notification of Albertsons' multiple breaches of the agreement, and to seek payment of the merger's break fee, to which they are not entitled," the company's statement said.For the two grocery rivals, which had been on track to marry their numerous supermarket banners, the lawsuit amounts to a corporate divorce battle.

Albertsons in its news release said it is owed both a $600 million termination fee and"relief reflecting the multiple years and hundreds of millions of dollars it devoted to obtaining approval for the merger, along with the extended period of unnecessary limbo Albertsons endured as a result of Kroger's actions."

Kroger, on the other hand, pushed back against payments to Albertsons in its statement and said it"looks forward to responding to these baseless claims in court."Tom Brady watches, game-worn jerseys sell for $9 million at auction

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