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Wed, December 11, 2024
[ 08:00 PM ] - United States, CNN
Albertsons calls off merger and sues Kroger
Tue, December 10, 2024
[ 11:41 AM ] - United States, CNN
Macy's is in deep trouble. It could be sitting on a goldmine

Albertsons calls off merger and sues Kroger


Published on 2024-12-11 20:00:48 - CNN
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  • Grocery chain Albertsons called off its $25 billion blockbuster merger with Kroger Wednesday after a federal judge halted the deal.

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 ]

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