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.
2024-12-25 21:171302 view
2024-12-25 21:072757 view
2024-12-25 20:501291 view
2024-12-25 20:441263 view
2024-12-25 19:091076 view
2024-12-25 19:001675 view
The University of North Carolina has agreed to pay new football coach Bill Belichick $10 million a y
Bitcoin, as a pioneer of digital currencies, has a history marked by astonishing rises and profound
PARIS - French police arrested an Egyptian Olympic wrestler on suspicion of sexual assault in the ea