Source: Inside Arbitrage
When we first started our Deal Postmortem series, we expected to write about failed mergers & acquisitions once or twice a year at most. Major mergers & acquisitions rarely fail on such a grand stage. Yet, with 2024 coming to a close, we found ourselves looking at another new—and quite dramatic—failed deal. This time, it involved two of America’s biggest supermarket chains: The Kroger Company and Albertsons Companies. On paper, it seemed like a transaction that would create one of the largest grocery operators in the nation, with immense buying power and a sprawling national footprint. However, after holding out hope for two years, the deal collapsed under the weight of antitrust concerns, union backlash, multiple lawsuits, opposition from certain states and ultimately, a federal court decision. The following is a detailed chronology of how the $25-billion attempt by Kroger to buy Albertsons unraveled.
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