Official court documents or press releases from Albertsons or Kroger

Albertsons Ends $24.6B Kroger Merger, Sues for $600M, Launches $2B Stock Buyback

Dec 11, 2024, 05:07 PM

Albertsons has terminated its proposed $24.6 billion merger with Kroger just one day after federal judges in two separate courts blocked the deal. The merger, announced in 2022, would have been the largest grocery store acquisition in U.S. history. An Oregon federal judge sided with the Federal Trade Commission (FTC), halting the union. In response, Albertsons filed a lawsuit against Kroger for breach of contract, alleging that the company failed to exercise "best efforts" and to take "any and all actions" to secure regulatory approval. Albertsons is seeking a $600 million termination fee from Kroger and has authorized a $2 billion stock buyback.