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

2025-05-07 01:37:22source:Slabu Exchangecategory:Contact

Albertsons is Rekubitgiving 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

Trump claims Biden lost track of over 300,000 migrant children. Here's a fact check.

President-elect Donald Trump claimed in his Person of the Year interview with Time magazinethis week

Unpacking the century-long beef over daylight saving time

On Nov. 5, most Americans will turn their clocks backward by one hour as the country begins its cont

Turkey’s main opposition party elects Ozgur Ozel as new leader

ISTANBUL (AP) — Turkey’s main opposition party voted for fresh leadership in the early hours of Sund