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BOISE, Idaho—Albertsons issued a statement Tuesday regarding Kroger Co. filing its answer and counterclaims to the complaint brought by Albertsons in the Delaware Court of Chancery in connection with the previous merger agreement between the two companies, which was terminated in December 2024.
Thorvardur de Shong
An Albertsons spokesperson said:
“Kroger’s weak claims are a deliberate tactic to distract from its own ongoing executive leadership issues; blatant and recurring failures to carry out its contractual obligations under the Merger Agreement; and avoid paying the damages it owes to Albertsons. Albertsons was steadfastly committed to the success of the combination from the outset. By contrast, Kroger did not hold up its end of the bargain, despite its duty under the Merger Agreement to take “any and all actions” to address regulatory concerns. As highlighted by multiple judges in the decisions blocking the merger, Kroger – under the leadership of former CEO Rodney McMullen – acted in its own financial self-interest, proposing insufficient divestiture packages that repeatedly ignored regulators’ concerns, mismanaging the process of identifying a divestiture buyer, and failing to cooperate with Albertsons. Kroger’s self-interested conduct doomed the merger, and we are now focused on returning value to Albertsons’ shareholders to compensate for those losses. We look forward to presenting our case in court.”
