Albertsons Sues Kroger for Alleged Breach of Merger Agreement-March 2024-www.financetom.com

Albertsons Sues Kroger for Alleged Breach of Merger Agreement

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Albertsons Sues Kroger for Alleged Breach of Merger Agreement

Dec 11, 2024 6:14 AM

08:52 AM EST, 12/11/2024 (MT Newswires) -- Albertsons ( ACI ) said Wednesday it terminated its merger agreement with Kroger ( KR ) and filed a lawsuit against the grocer for allegedly breaching their merger agreement after a federal judge in Oregon blocked the deal on Tuesday.

"Kroger ( KR ) willfully breached the Merger Agreement in several key ways, including by repeatedly refusing to divest assets necessary for antitrust approval, ignoring regulators' feedback, rejecting stronger divestiture buyers and failure to cooperate with Albertsons ( ACI )," the company said.

Albertsons ( ACI ) said it is seeking "billions of dollars in damages" from Kroger ( KR ).

Kroger ( KR ) did not immediately reply to a request for comment from MT Newswires.

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