Albertsons Demands Billions from Rival Kroger After Terminating Merger Bid
December 12, 2024 | 1 min to read
Albertsons and Kroger have officially ended their $25 billion merger after courts blocked the agreement, with Albertsons alleging Kroger breached the contract that resulted in the deal's failure. This formal termination concludes a two-year effort to merge, which faced regulatory scrutiny over concerns of increased prices for consumers. Albertsons claims Kroger did not take the necessary steps to secure approval for the merger.
Albertsons (ACI.N), opens new tab and Kroger (KR.N), opens new tab terminated their $25 billion merger plan after courts blocked the deal, with the former suing its rival and alleging a breach of contract that led to the deal’s demise.
The formal termination ends a two-year effort by the chains to combine, which regulators argued would lead to higher prices for shoppers. Albertsons said it was suing due to Kroger’s failure to take “any and all actions” to get the deal approved.
To read the rest of the story, please go to: Reuters