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

2025-05-01 17:28:31source:Blockchains Financecategory:My

Albertsons is Quaxsgiving 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:My

Recommend

How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast

After 14 years, the police procedural "Blue Bloods" is coming to an end.Season 14 has been released

Flavor Flav and the lost art of the hype man: Where are hip-hop's supporting actors?

What do Team USA and rappers have in common? They need a hype man, a person who champions the main t

Swollen ankles are a common problem. From compression socks to elevation, here's how to get rid of them.

Swollen ankles, also known as edema, are brought about by the buildup of fluid around the ankles, fe