Albertsons Files Lawsuit Against Kroger for Breach of Merger Agreement
Albertsons Companies, Inc. Class A (ACI)
US:NYSE Investor Relations:
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Source: Business Wire
Kroger refused to offer an adequate divesture package and repeatedly ignored regulators’ concerns, causing the merger with Albertsons to be blockedSeeks billions of dollars in damages to account for harm to Albertsons’ business, consumers, associates and shareholders BOISE, Idaho--(BUSINESS WIRE)--Albertsons Companies, Inc. (NYSE: ACI) (“Albertsons”) today filed a lawsuit against The Kroger Co. (NYSE: KR) (“Kroger”) in the Delaware Court of Chancery, bringing claims for willful breach of contract and breach of the covenant of good faith and fair dealing arising from Kroger’s failure to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction, as was required of Kroger under the terms of the merger agreement between the parties (the “Merger Agreement”). Pursuant to the Court of Chancery rules, Albertsons’ complaint against Kroger is temporarily under seal.Kroger willfully breached the Merger Agreement in seve
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News
- Albertsons Companies Announces Third Quarter Fiscal 2024 Earnings Release and Conference Call DateBusiness Wire
- Albertsons Companies, Inc. (NYSE: ACI) had its price target lowered by analysts at UBS Group AG from $27.00 to $24.00. They now have a "neutral" rating on the stock.MarketBeat
- Albertsons Companies, Inc. (NYSE: ACI) had its price target raised by analysts at Royal Bank of Canada from $21.00 to $22.00. They now have an "outperform" rating on the stock.MarketBeat
- Albertsons Companies, Inc. (NYSE: ACI) was upgraded by analysts at Telsey Advisory Group from a "market perform" rating to an "outperform" rating. They now have a $26.00 price target on the stock, up previously from $21.00.MarketBeat
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ACI
Earnings
- 10/15/24 - Beat
ACI
Sec Filings
- 12/11/24 - Form 8-K
- 12/6/24 - Form 4
- 12/6/24 - Form 4
- ACI's page on the SEC website