Albertsons terminates US$25-billion merger with Kroger, sues rival for alleged breach of contract

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 32 sec. here
  • 49 min. at publisher
  • 📊 Quality Score:
  • News: 180%
  • Publisher: 92%

Canadian News Notizia

Canada News,Breaking News Video,Canadian Breaking News

Albertsons said it was suing due to Kroger’s failure to take ‘any and all actions’ to get the deal approved

after courts blocked the deal and sued its rival, alleging a breach of contract that led to the deal’s demise.

Albertsons is seeking billions of dollars in damages along with the $600-million termination fee. Kroger did not immediately respond to a request for comment on the lawsuit. Two different courts blocked the deal on Tuesday, siding with the Federal Trade Commission, which moved to stop the deal, and argued in a trial that the merger would eliminate competition between the traditional grocery chains, causing higher prices and reducing leverage for unionized workers.

The FTC sued along with attorneys general from eight states and the District of Columbia. Colorado, like Washington, sued on its own to block the deal.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 5. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

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 for the US$24.6 billion agreement.
Fonte: CTVNews - 🏆 1. / 99 Leggi di più »

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal. U.S.
Fonte: SooToday - 🏆 8. / 85 Leggi di più »

Proposed merger of Kroger and Albertsons is halted by federal, state judgesThe proposed merger between supermarket giants Kroger and Albertsons floundered on Tuesday after judges overseeing two separate cases both halted the merger. U.S.
Fonte: SooToday - 🏆 8. / 85 Leggi di più »

Kroger-Albertsons Merger Blocked By Federal JudgeDave Jamieson has been HuffPost's labor reporter since 2011. Before joining the D.C. bureau, he was a staff writer at Washington City Paper and a freelancer contributing to Slate, the New Republic, the Washington Post and Outside magazine, among other outlets.
Fonte: HuffPostCanada - 🏆 61. / 53 Leggi di più »

Proposed merger of supermarket giants Kroger and Albertsons is halted by federal, state judgesThe proposed merger between supermarket giants Kroger and Albertsons floundered on Tuesday after judges overseeing two separate cases both halted the deal.
Fonte: CTVNationalNews - 🏆 82. / 51 Leggi di più »