Albertsons said Wednesday that it is terminating its $25 billion merger agreement with Kroger and suing its rival, ending a controversial bid to combine two of the largest grocery companies in the U.S.from moving forward. The judge in the case found that the Federal Trade Commission was likely to prevail in its argument that the merger violates antitrust law.
“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,” the company said in a statement.Faye Guenther, president of local UFCW 3000, holds a sign during a news conference about the Kroger and Albertsons merger outside the federal courthouse on Aug. 26 in Portland, Oregon.
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