Former Albertsons CEO testifies merger failed due to Kroger's store divestiture plans
KR Kroger Co
$62.98 -0.11%
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- 1Former Albertsons CEO Vivek Sankaran testified that the two companies disagreed from the start on the number of stores to be sold for regulatory approval.
- 2Albertsons is demanding $8 billion in settlement from Kroger, including $600 million in Albertsons' termination fees.
- 3Kroger argues that Albertsons is not entitled to termination fees or other damages.
So what's the key point?
The former head of Albertsons said the merger failed because of disagreements over selling stores. Now, Albertsons is demanding $8 billion from Kroger in a legal dispute.
Source Grocery Dive +1 · View original ↗
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