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

2024-12-25 21:41:12 source:lotradecoin instructions category:Scams

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.

More:Scams

Recommend

'The Voice' Season 26 finale: Coach Michael Bublé scores victory with Sofronio Vasquez

"The Voice" crowned Team Bublé singer Sofronio Vasquez as the Season 26 winner.The season finale ai

Ivan Boesky, notorious trader who served time for insider trading, dead at 87

Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one o

Pope Francis: Climate change at this moment is a road to death

Pope Francis says the climate crisis has "gotten to the point of no return" as the planet continues