Last week, The Kroger Co. released the following statement regarding its recently terminated merger with Albertsons.
Direct from Kroger’s statement:
Albertsons' claims are baseless and without merit.
Kroger refutes these allegations in the strongest possible terms, especially in light of Albertsons' repeated intentional material breaches and interference throughout the merger process, which we will prove in court.
This is clearly an attempt to deflect responsibility following Kroger's written notification of Albertsons' multiple breaches of the agreement, and to seek payment of the merger's break fee, to which they are not entitled.
Kroger looks forward to responding to these baseless claims in court. We went to extraordinary lengths to uphold the merger agreement throughout the entirety of the regulatory process and the facts will make that abundantly clear.
We are incredibly proud of the Kroger team for how they worked through the merger process with the highest degree of integrity and commitment.
We are confident in Kroger's value creation model to drive sustainable growth. Kroger's Board of Directors is currently evaluating next steps that serve the best interests of Kroger's customers and associates, and create value for shareholders.
Kroger released additional strategic details in a follow-up release, available here.
As more updates pop up across the world of retail, DMN will be here to report.
