Consumer
Kroger Fights Albertsons Suit Over Failed $24.6 Billion Deal
After the deal was blocked, Albertsons filed its lawsuit seeking billions of dollars in damages claiming that Kroger didn’t exercise “best efforts” to win regulatory approval.
Photographer: Mark Felix/BloombergThis article is for subscribers only.
Kroger Co. is fighting back against a lawsuit brought by Albertsons Cos. over its failed $24.6 billion takeover of the rival grocery chain, escalating a dispute that began after US antitrust enforcers succeeded in blocking the deal last year.
Albertsons is trying to extract billions of dollars, including a $600 million termination fee, with baseless claims that Kroger tried to undermine the deal, attorneys for Kroger wrote in a filing that was unsealed on Tuesday in the Delaware Court of Chancery.