This whole process has been like watching a soap opera!
USA TODAY Reports
Albertsons announced Wednesday it is pulling out of its plans to merge with Cincinnati-based Kroger, citing two court rulings on Tuesday barring the transaction.
Also, it disclosed it’s suing Kroger “for billions” for botching the deal and dooming the companies’ bid for regulatory approval.
“Given the recent federal and state court decisions to block our proposed merger with Kroger, we have made the difficult decision to terminate the merger agreement. We are deeply disappointed in the courts’ decisions,” Albertsons CEO Vivek Sankaran said in a statement. More Here
