Albertsons Cos. said it filed a lawsuit against Kroger Co., claiming it failed to exercise “best efforts” and take “any and all actions” needed to secure regulatory approval for the companies’ proposed $24.6 billion deal.
Albertsons said in a statement that it’s seeking “billions of dollars in damages from Kroger to make Albertsons and its shareholders whole.” In addition to a $600 million termination fee, the grocery chain wants compensation for the “multiple years and hundreds of millions of dollars it devoted to obtaining approval for the merger.”
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