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

2024-12-25 15:01:34 source:lotradecoin two-factor authentication setup 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

Video shows 2 toddlers in diapers, distraught in the middle of Texas highway after crash

Two toddlers wearing nothing but diapers were spotted in the middle of a Texas highway following a t

Supreme Court strips SEC of key enforcement power to penalize fraud

Washington — The Supreme Court on Thursday ruled against the Securities and Exchange Commission in a

Train derails at Illinois village; resident evacuation lifted

A train derailed in at an Illinois village on Thursday, promoting an investigation and temporary eva