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.

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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.
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