12 sources·Business

Albertsons Pulls Out of Kroger Merger, Initiates Lawsuit Amid Legal Battle

Albertsons terminates its $24.6 billion merger with Kroger, citing breach of contract, and files a lawsuit seeking compensation and damages.

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Updated: Dec 11th, 2024, 3:06 PM ET

Summary

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Albertsons has officially withdrawn from its proposed $24.6 billion merger with Kroger after a judge blocked the deal over competition concerns. Albertsons is suing Kroger for a $600 million termination fee and damages, claiming the grocery chain failed to act in good faith to facilitate merger approval. Kroger has dismissed the lawsuit as baseless. The merger's collapse is expected to impact consumers and could alter Albertsons' future as it seeks other partnerships amidst significant debt.

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