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 20:262102 view
2024-12-25 20:011939 view
2024-12-25 19:572126 view
2024-12-25 19:451737 view
2024-12-25 18:56821 view
2024-12-25 18:31657 view
Next year’s Sundance Film Festivalwill feature Jennifer Lopezsinging and dancing in Bill Condon’s “K
The speaker of Canada's House of Commons resigned Tuesday for inviting a man who fought for a Nazi m
JERUSALEM (AP) — Five family members were killed in a mass shooting Wednesday in an Arab town in nor