Albertsons calls off massive grocery merger and sues Kroger for failing to secure the deal

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.. An hour later, 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 consumer-protection laws.

Under the merger agreement, Kroger and Albertsons — who compete in 22 states — agreed to sell 579 stores in places where their locations overlap to C&S Wholesale Grocers, a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands. 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.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Court blocks Kroger's $25 billion acquisition of grocery rival AlbertsonsThe FTC argued the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers.
La source: CNBC - 🏆 12. / 72 Lire la suite »

After court loss, Albertsons backs out of merger with Kroger, sues grocery chainAlbertsons says it is giving up on joining forces with Kroger and has filed a lawsuit, accusing the chain of failing to do enough to win government approval for the deal.
La source: latimes - 🏆 11. / 82 Lire la suite »

Court blocks Kroger’s $25 billion acquisition of rival AlbertsonsA U.S. judge blocked the pending $25 billion merger of U.S. grocery chains Kroger and Albertsons on Tuesday, siding with the U.S. Federal Trade Commission in...
La source: dallasnews - 🏆 18. / 71 Lire la suite »

Shoppers relieved as court blocks Kroger-Albertsons merger in Washington stateRight after the blocked Kroger-Albertsons merger in Washington state, KOMO News spoke with shoppers outside the QFC on Seattle's Mercer Street and 5th Avenue.
La source: komonews - 🏆 272. / 63 Lire la suite »