Albertsons terminates merger with Kroger and sues for breach of agreement

with Kroger and is suing Kroger for alleged breach of the merger agreement, claiming it had failed to make its “best efforts” to get the merger approved.for the District of Oregon blocked it, but on Wednesday morning, Albertsons CEO Vivek Sankaran confirmed the merger between the two supermarket giants would be terminated.

“This historic win protects millions of Americans across the country from higher prices for essential groceries — from milk to bread to eggs — ultimately allowing consumers to keep more money in their pockets.

Shortly after announcing it had terminated the merger agreement, Albertsons filed a lawsuit against Kroger for allegedly failing to exercise “best efforts” and to take “any and all actions” for the merger to receive regulatory approval.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: CNBC - 🏆 12. / 72 Leer más »

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsPORTLAND, Ore. (AP) — A federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could
Fuente: Mynorthwest - 🏆 438. / 53 Leer más »

Judge blocks Albertsons-Kroger $25 billion supermarket mergerRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
Fuente: NBCNews - 🏆 10. / 86 Leer más »

Federal judge blocks merger of Kroger and Albertsons, citing threat to competitionThe temporary injunction, which halts the merger while a Federal Trade Commission proceeding plays out, is expected to effectively torpedo that deal.
Fuente: adndotcom - 🏆 293. / 63 Leer más »