By Denny Jacob
Kroger filed a countersuit against one-time acquisition target Albertsons regarding the two companies' previous merger.
Officials at Albertsons last year alleged that Kroger's approach to the federal antitrust review further stacked the odds against their deal, which went on to be blocked by a federal judge and later abandoned by the companies. Albertsons said Kroger showed reluctance to divest itself of a larger number of stores and disregarded feedback about the deal from the Federal Trade Commission, among other accusations.
Kroger on Tuesday fired back, claiming that while it was working to close the merger, Albertsons was working in coordination with C&S Wholesale Grocers to pursue its own regulatory strategy that ultimately undermined its efforts. It added that Albertsons isn't entitled to the $600 million termination fee under their merger agreement or other damages as a result.
A spokesperson for Albertsons said the company looks forward to presenting its case in court.
Kroger filed its case in the Delaware Court of Chancery, widely considered the nation's top tribunal for corporate takeover and merger disputes.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 25, 2025 11:06 ET (15:06 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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