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

2024-12-25 22:50:43 source:lotradecoin leverage trading explained category:Contact

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:Contact

Recommend

China says Philippines has 'provoked trouble' in South China Sea with US backing

BEIJING — China accused the Philippines on Friday (Dec 13) of having "provoked trouble" in the South

Florida State coach Mike Norvell, AD shred committee for College Football Playoff snub

Florida State head coach Mike Norvell and athletic director Michael Alford wasted little time shredd

Liz Cheney on why she believes Trump's reelection would mean the end of our republic

How do you sound the alarm when people have gotten used to the ringing? That is the challenge for fo