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

2024-12-24 08:32:20 source:how to trade on lotradecoin category:reviews

Albertsons is giving 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:reviews

Recommend

Biden commutes roughly 1,500 sentences and pardons 39 people in biggest single

WASHINGTON (AP) — President Joe Bidenis commuting the sentences of roughly 1,500 people who were rel

Chicago-area man gets 18 years for 2021 drunken driving crash that killed 3

WHEATON, Ill. (AP) — A suburban Chicago man was sentenced to 18 years in prison Monday for a 2021 dr

One senior's insistent acts of generosity: She is just a vessel for giving and being loving

Gayle Noble spends her days driving around Oceanside, California, doing random acts of kindness for