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The Kroger-Albertsons Deal Is Off. Courthouse Drama Could Be Next

A Kroger store in Kentucky in June.

Jeffrey Dean / Bloomberg via Getty Images

澳洲幸运5开奖号码历史查询: The deal is over. The story isn't. 

A day after a federal judge blocked the long-planned merger between Kroger (KR) and Albertsons (ACI) that would’ve created a U.S. grocery giant, both companies were lo💜oking forward—to what’s next for their businesses and to the possibility🦂 of action in court. 

Albertsons, which agreed in 2022 to link up with Kroger, this morning terminated the merger agreement, saying that it filed a lawsuit against Kroger seeking damages that go beyond a $600 million termination fee. In a press release, Chief Policy Officer Tom Moriarty cited ”Kroger’s willfully deficient approach to securing re𓆉gulatory clearance.”

Kroger called Albertsons' claims “baseless and without merit" in a statement to Investopedia. “We went to extraordinary lengths to uphold the merger agreement throughout the entirety of the regulatory process and the f🐼acts𓆉 will make that abundantly clear,” the statement said. 

Meanwhile, both companies sought to refocus investor attention on the opportunities ahead. Albertsons among other initiatives increased its dividend and authorized a $2 billion stock buyback. Kroger in its statement sai𒈔d its board “is currently evaluating next stepജs that serve the best interests of Kroger’s customers and associates, and create value for shareholders.”

Shares of Kroger, which finished yesterday higher as investors p✅rocessed the news, rose further in Wednesday trading. Albertsons shares were little changed in recent🅠 action. 

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