Source: Reuters
U.S. grocery chain Kroger countersued Albertsons on Tuesday, escalating a legal battle between the companies following the collapse of their proposed $25 billion merger in December.
Albertsons terminated the merger immediately after courts blocked it and sued Kroger, alleging a breach of contract that led to the deal falling apart.
The formal termination ended a two-year effort by the grocery chains to combine that regulators – who moved to stop the deal – said would eliminate competition and cause higher prices and reduce leverage for unionized workers.
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