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 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. District Court Judge Adrienne Nelson issued a preliminary injunction blocking the merger Tuesday after holding ain Portland, Oregon.

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. Albertsons said Kroger refused to divest the assets necessary for antitrust approval, ignored regulators' feedback and rejected stronger divestiture buyers.

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. “Kroger’s self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons’ shareholders, associates and consumers,” said Tom Moriarty, Albertsons’ general counsel, in a statement.Shares of Albertsons rose more than 2% before the market open, while Kroger’s stock declined slightly.

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure dealAlbertsons 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 of the $24.6 billion agreement.
स्रोत: ksatnews - 🏆 442. / 53 और पढो »

Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure dealAlbertsons 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
स्रोत: Mynorthwest - 🏆 438. / 53 और पढो »

Albertsons gives up on Kroger merger, files lawsuit against grocery chainThis comes a day after the proposed merger between the supermarket giants floundered after judges overseeing two separate cases both halted the deal.
स्रोत: FOX10Phoenix - 🏆 83. / 68 और पढो »

Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure dealKatie joined the Denver7 team as a digital content producer in April of 2023.
स्रोत: DenverChannel - 🏆 239. / 63 और पढो »

Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure dealAlbertsons said that Kroger failed to exercise “best efforts”
स्रोत: sdut - 🏆 5. / 95 और पढो »

Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure dealAlbertsons is giving up on its merger with Kroger a day after it was rejected in two courts and it is suing the grocery chain
स्रोत: ABC7Chicago - 🏆 284. / 63 और पढो »