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.
2024-12-26 09:29857 view
2024-12-26 09:02182 view
2024-12-26 08:592274 view
2024-12-26 08:152740 view
2024-12-26 07:232173 view
2024-12-26 07:06964 view
California lawmakers pass nearly 1,000 new lawseach year. How do they know whether they are working?
Two juveniles were charged in connection to the death of an 8-year-old in Georgia earlier this year.
ALBANY, N.Y. (AP) — A proposed amendment to New York’s Constitution that’s intended to protect abort