Albertsons starts 8B trial against Kroger
Albertsons has started its eight billion dollar trial against Kroger in Delaware court. The grocery chain claims Kroger breached merger obligations by failing to secure regulatory approval.
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ALBERTSONS COS INC - CLASS A has launched an $8 billion trial against rival KROGER CO following the collapse of their $24.6 billion merger. The two-week bench trial in Delaware's Court of Chancery follows antitrust challenges that blocked the 5,000-store combination. Both grocers have seen divergent share performance since the deal collapsed, with Kroger stock rising 4% and Albertsons falling nearly 30% while lagging the S&P 500 index.
