(Reuters) -U.S. grocery chain Kroger countersued rival Albertsons on Tuesday, escalating a legal fight between the two companies following the demise of their proposed $25 billion merger that was blocked by courts.
Albertsons terminated its $25 billion bid to merge with Kroger in December after the deal got blocked and sued Kroger, alleging a breach of contract that led to the deal’s demise.
The formal termination ended a two-year effort by the grocery chains to combine. Regulators had noted that the deal would lead to higher prices for shoppers.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)
Comments