Posted on 12/11/2024 7:41:01 AM PST by ChicagoConservative27
Albertsons said Wednesday that it has terminated a $25 billion merger agreement with Kroger and will sue the grocery giant, alleging the company didn’t do enough to get the deal done.
Judges in Washington and Oregon on Tuesday blocked the deal, delivering a win to federal regulators and consumer advocates who argued the merger could harm competition, consumers and workers and push prices up.
“Rather than fulfill its contractual obligations to ensure that the merger succeeded, Kroger acted in its own financial self-interest, repeatedly providing insufficient divestiture proposals that ignored regulators’ concerns. Kroger’s self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons’ shareholders, associates and consumers,” said Tom Moriarty, Albertsons’ general counsel and chief policy officer.
Kroger called Albertsons’ claims “baseless and without merit.”
(Excerpt) Read more at thehill.com ...
We used to have Albertson’s here until they sold their stores to Publix.......................
Article:
“the company didn’t do enough to get the deal done.”
The company was supposed to identify and bribe the appropriate public officials.
Oops.
Well, duh. That's what capitalism is all about.
I admit I haven’t really kept up with the time-line on the merger.
So the courts block the merger (it appears at the government’s request), and now Albertsons is suing Kroger because the merger is being stopped by the Courts.
Do I have that right?
The consumer advocates will be watching as hundreds of Albertsons stores go the way of the hundreds of 7-11 stores now shutting down . Cause and effect?
That’s like Bill Clinton blaming Fox News for Hillary’s defeat and running to Monica.
Schemers all around.
Don’t care. I have Brookshires and HEB and local Mennonite farms.
Yeah - that pretty well simplifies and sums it up.
Albertson’s. Only grocery store in 1977 I ever saw that had a gun counter. Tulsa OK.
Back in Fort Lauderdale we had a Publix across the street from an Albertsons.
Albertsons sold out to Publix in Florida. You’d think they’d close one of stores, since they were literally across the street from each other.
Nope, both stores were made Publix. One was made a high-end Publix and the other just a regular Publix.
Whatever the outcome, food prices will rise to cover the costs of litigation.
Are there any Winn-Dixie’s in your area?
When I was vacationing in Florida, I’d stop there.
Of course, I remember Albertson’s and Publix too. Both seemed decent to me.
If there’s anything in Florida I miss, it’s Eckerd Drug. I like them much better than Walgreens or CVS.
We now live in New Mexico.
We have Smith’s (Krogers), Albertsons, Walmart, and smaller, health foods grocers like Sprouts and Trader Joes.
We had a Winn Dixie near me when I was growing up in Fort Lauderdale. It closed a while ago.
I used to shop at Kroger, until HEB finally made its way to North Texas.
My son lives in Texas. We always stop by an H.E.B. when we go visit him. Love that place!
I hate Kroger. I hate it with a passion.
Government regulations are destroying businesses in our nation at a rapid rate.
Before long, we will only be able to purchase products including food, at the government “company store”.
“The government giveth and the government immediately taketh away.”
heading that way
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