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Albertsons calls off merger and sues Kroger

Albertsons has called off its planned $24.6 billion merger with Kroger and is now suing the rival supermarket chain, alleging that Kroger failed to obtain necessary regulatory approvals in a timely manner. The lawsuit claims that Kroger did not make sufficient efforts to address regulatory concerns, leading to delays that have now jeopardized the merger. Albertsons is seeking damages for the costs incurred during the merger process and is also asking the court to enforce the termination fee stipulated in the merger agreement. This legal action marks a significant escalation in the tensions between the two grocery giants, potentially reshaping the competitive landscape of the U.S. supermarket industry.

Read the Full CNN Article at:
[ https://www.cnn.com/2024/12/11/business/albertsons-calls-off-merger-sues-kroger/index.html ]