Kroger (KR, Financial) and Albertsons (ACI) have ended their $25 billion merger plan after a court blocked the deal. Albertsons is suing Kroger, accusing it of breaching the contract and causing the merger's failure. The merger faced regulatory opposition due to concerns over potential consumer price hikes. Albertsons seeks billions in damages and a $600 million termination fee. Kroger denies the allegations and plans to defend itself in court. The merger would have created the second-largest grocery chain in the U.S., with Walmart (WMT) remaining the leader. Albertsons announced an increase in quarterly dividends and a $2 billion stock buyback. Meanwhile, Kroger approved a $7.5 billion stock repurchase plan.
Kroger (KR) and Albertsons (ACI) Terminate $25 Billion Merger Amid Legal Disputes
Dec 12, 2024
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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
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