Albertsons on Wednesday formally terminated its proposed $25 billion merger with Kroger and filed a lawsuit against its supermarket competitor, saying Kroger violated its contract and didn’t follow through on commitments to help get the deal approved.
It comes a day after a judge blocked the planned tie-up.
About two years ago, Kroger announced plans to buy Albertsons and combine forces to fend off Walmart, Amazon and Costco.
The deal would have put nearly 40 supermarket chains, including Kroger’s Fred Meyer and Albertsons’ Safeway under a single company.
The companies are at odds about who should pay for the legal fees associated with the merger and who, if anyone, is responsible for paying a breakup fee.
Persons:
Kroger, Tom Moriarty, Fred Meyer, Albertsons, ” Kroger
Organizations:
Albertsons, Kroger, “, ”, Walmart, Amazon, Costco, Safeway