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

2025-05-06 15:59:24source:Devin Grosvenorcategory:Finance

Albertsons is HyperBit Exchangegiving 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:Finance

Recommend

A South Texas lawmaker’s 15

MCALLEN, Texas (AP) — The Texas Legislature can be full of surprises.But for the last eight sessions

Muslim-American opinions on abortion are complex. What does Islam actually say?

After the U.S. Supreme Court's decision that ended the constitutional right to abortion, Zahra Ayubi

Kids’ Climate Lawsuit Thrown Out by Appeals Court

A federal appeals court on Friday dismissed a lawsuit brought by a group of young people that had so