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

2025-04-28 19:33:14source:Burley Garciacategory:News

Albertsons is Desmond Prestongiving 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:News

Recommend

As US Dismantles Its Climate Policy, Other World Leaders Seek Solidarity

As the U.S. Department of State proposed this week to shut down its office managing international cl

Finding a place at the Met, this opera sings in a language of its own

Ailyn Pérez is an American soprano on the go. Her work often takes her to the world's leading opera

Hiam Abbass’ Palestinian family documentary ‘Bye Bye Tiberias’ applauded at Marrakech Film Festival

MARRAKECH, Morocco (AP) — Thirty years ago, Palestinian actor Hiam Abbass left her home to pursue he