The Kroger Co. (KR) has filed its answer and counterclaims to the complaint brought by Albertsons (ACI) in the Delaware Court of Chancery, in connection with the previous merger agreement between the two companies, which was terminated in December 2024. The company said, “As detailed in the court filing, while Kroger was working diligently to seek regulatory approval and close the merger, Albertsons was engaging in a secret and misguided campaign, together with C&S Wholesale Grocers, the divestiture buyer, to pursue its own regulatory strategy, which ultimately undermined Kroger’s efforts. Albertsons’s misconduct shockingly came to light in the middle of the antitrust trials under government cross examination of Susan Morris, Albertsons’s recently promoted CEO designate. As a result of its misconduct, Albertsons is not entitled to the $600M termination fee under the terms of the parties’ merger agreement, nor is Albertsons entitled to the other damages it seeks. Kroger continues to capitalize on its business model, generating differentiated value for all stakeholders. This includes significant investments that are delivering lower prices and increasing wages, while further improving the experience for an expanding customer base. The Company recently reported quarterly results ahead of expectations and positive momentum in 2025, as it drives sustainable future growth and compelling total shareholder returns.”
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