Albertsons abandons $25 billion merger with Kroger after judge blocks deal

  • 📰 CBSLA
  • ⏱ Reading Time:
  • 22 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Lawsuit أخبار

Albertsons,Kroger

Albertsons said it is calling off its merger with Kroger and is suing the rival grocery chain for breach of contract.

Albertsons on Wednesday called off its $24.6 billion merger with Kroger, a day after a judge temporarily blocked the union, and sued the rival grocery chain for breach of contract. 'Given the recent federal and state court decisions to block our proposed merger with Kroger, we have made the difficult decision to terminate the merger agreement,' Albertsons CEO Vivek Sankaran said in a statement. 'We are deeply disappointed in the courts' decisions.

Albertsons alleges that Kroger failed 'to exercise 'best efforts' and to take 'any and all actions' to secure regulatory approval of the companies' agreed merger transaction, as was required of Kroger under the terms of the merger agreement between the parties,' according to the statement. In an email to CBS News, Kroger called Albertsons' claims 'baseless and without merit.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 552. in SA
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

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

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...
مصدر: dallasnews - 🏆 18. / 71 اقرأ أكثر »

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.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »

$25-billion Kroger-Albertsons merger plan is blocked by federal judgeA federal judge on Tuesday temporarily blocked what would be the largest supermarket merger in U.S. history, involving Kroger and Albertsons.
مصدر: latimes - 🏆 11. / 82 اقرأ أكثر »

$25 Billion Kroger-Albertsons Merger Blocked By Federal JudgeThe judge sided with the Federal Trade Commission, which raised antitrust concerns over the merger.
مصدر: Forbes - 🏆 394. / 53 اقرأ أكثر »