AQCAN-Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal

2025-05-07 22:12:30source:Roboviscategory:Markets

Albertsons is AQCANgiving 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 $24.6 billion agreement.

U.S. District Court Judge Adrienne Nelson issued a preliminary injunction blocking the merger Tuesday after holding a three-week hearingin Portland, Oregon. Then Judge Marshall Ferguson in Seattle issued a permanent injunction barring the merger in Washington after concluding it would lessen competition in the state and violate Washington’s consumer-protection laws.

On Wednesday Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction.

Shares of Albertsons rose more than 2% before the market open, while Kroger’s stock declined slightly.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.

More:Markets

Recommend

JoJo Siwa reflects on Candace Cameron Bure feud: 'If I saw her, I would not say hi'

JoJo Siwa is reflecting on her "very public beef" with Candace Cameron Bure.The "Dance Moms" alum, 2

Jets’ Aaron Rodgers shows support for unvaccinated tennis star Novak Djokovic

FLORHAM PARK, N.J. (AP) — Aaron Rodgers crossed an item off his sports bucket list — and then made a

Eric Church, Miranda Lambert and Morgan Wallen to headline Stagecoach 2024

Giddy up! The lineup for the Stagecoach country music festival is here.Eric Church, Miranda Lambert