Supermarket giant Albertsons abandoned its $24.6 billion proposed merger with Kroger Wednesday, suing its rival for breach of contract after two federal judges temporarily blocked the deal.
Federal judges in Oregon and Washington sided with the FTC Tuesday, freezing the Kroger-Albertsons merger over concerns it would reduce competition and increase consumer prices.
The grocery giants have accused each other of not doing enough to secure regulatory approval. It ended with Albertsons suing Kroger for $600M in termination fees plus billions in damages, while Kroger dismissed the claims as baseless.
