Court rulings, official press releases from Albertsons or Kroger, or major financial news outlets

Albertsons Terminates $25 Billion Merger with Kroger, Sues for $600M After Court Block

Dec 11, 2024, 02:42 PM

Albertsons has terminated its proposed $25 billion merger with Kroger, following court rulings that blocked the deal. The decision came after both a federal judge in Oregon and a state judge in Washington issued temporary injunctions against the merger, citing concerns over competition in the grocery market. Albertsons, the parent company of Jewel-Osco, has filed a lawsuit against Kroger, alleging that the latter failed to exercise 'best efforts' to secure regulatory approval for the $24.6 billion transaction. The lawsuit claims Kroger did not take 'any and all actions' necessary to push through the merger, leading to its failure. Albertsons is now seeking a $600 million termination fee from Kroger for breach of contract.