Kroger Statement Responding to Albertsons' Baseless Lawsuit
Kroger (NYSE: KR) has issued a statement responding to Albertsons' lawsuit, strongly refuting all allegations as baseless and without merit. The company asserts that Albertsons committed multiple material breaches and interference during the merger process. Kroger views the lawsuit as an attempt by Albertsons to deflect responsibility and wrongfully seek the merger's break fee.
Kroger maintains it made extraordinary efforts to uphold the merger agreement throughout the regulatory process and plans to defend its position in court. The company's Board of Directors is currently evaluating next steps to create value for shareholders while serving customers' and associates' interests.
Kroger (NYSE: KR) ha rilasciato una dichiarazione in risposta alla causa di Albertsons, rigettando con forza tutte le accuse come infondate e prive di merito. L'azienda sostiene che Albertsons ha commesso numerose violazioni materiali e interferenze durante il processo di fusione. Kroger considera la causa come un tentativo di Albertsons di deviare la responsabilità e cercare ingiustamente la penale per la rottura della fusione.
Kroger mantiene di aver fatto sforzi straordinari per rispettare l'accordo di fusione durante tutto il processo normativo e intende difendere la sua posizione in tribunale. Il Consiglio di Amministrazione dell'azienda sta attualmente valutando i prossimi passi per creare valore per gli azionisti, pur servendo gli interessi dei clienti e dei collaboratori.
Kroger (NYSE: KR) ha emitido una declaración en respuesta a la demanda de Albertsons, refutando firmemente todas las acusaciones como infundadas y sin mérito. La empresa afirma que Albertsons cometió múltiples violaciones materiales e interferencias durante el proceso de fusión. Kroger considera la demanda como un intento de Albertsons de desviar la responsabilidad y buscar injustamente la tarifa de ruptura de la fusión.
Kroger sostiene que realizó esfuerzos extraordinarios para cumplir con el acuerdo de fusión a lo largo del proceso regulatorio y planea defender su posición en los tribunales. La Junta Directiva de la compañía está actualmente evaluando los próximos pasos para crear valor para los accionistas mientras atiende los intereses de los clientes y los asociados.
Kroger (NYSE: KR)는 Albertsons의 소송에 대한 성명을 발표하며 모든 주장을 근거 없고 부당하다고 강력히 반박했습니다. 회사는 Albertsons가 합병 과정에서 여러 차례 중대한 위반과 간섭을 했다고 주장합니다. Kroger는 이 소송을 Albertsons가 책임을 회피하고 부당하게 합병 해지 수수료를 요구하는 시도로 간주합니다.
Kroger는 규제 절차 전반에 걸쳐 합병 계약을 유지하기 위해 비범한 노력을 기울였으며, 법원에서 자신의 입장을 방어할 계획입니다. 회사의 이사회는 고객과 직원의 이익을 고려하여 주주를 위한 가치를 창출하기 위한 다음 단계를 현재 평가하고 있습니다.
Kroger (NYSE: KR) a publié une déclaration en réponse à la plainte d'Albertsons, réfutant fermement toutes les allégations comme infondées et sans fondement. La société affirme qu'Albertsons a commis plusieurs violations matérielles et interférences pendant le processus de fusion. Kroger considère la plainte comme une tentative d'Albertsons de détourner la responsabilité et de demander indûment des frais en cas de rupture de la fusion.
Kroger maintient avoir déployé des efforts extraordinaires pour respecter l'accord de fusion tout au long du processus réglementaire et prévoit de défendre sa position devant le tribunal. Le conseil d'administration de l'entreprise évalue actuellement les prochaines étapes pour créer de la valeur pour les actionnaires tout en servant les intérêts des clients et des employés.
Kroger (NYSE: KR) hat eine Erklärung veröffentlicht, in der sie auf die Klage von Albertsons reagiert und alle Anschuldigungen als unbegründet und ohne merit entschieden zurückweist. Das Unternehmen behauptet, dass Albertsons während des Fusionsprozesses mehrere wesentliche Vertragsverletzungen und Störungen begangen hat. Kroger sieht die Klage als einen Versuch von Albertsons, die Verantwortung abzulenken und unrechtmäßig die Trennungsgebühr für die Fusion zu beanspruchen.
Kroger behauptet, außergewöhnliche Anstrengungen unternommen zu haben, um den Fusionsvertrag während des gesamten Genehmigungsprozesses aufrechtzuerhalten und plant, seine Position vor Gericht zu verteidigen. Der Vorstand des Unternehmens prüft derzeit die nächsten Schritte zur Wertschöpfung für die Aktionäre, während die Interessen von Kunden und Mitarbeitern gewahrt bleiben.
- Company maintains strong financial position to drive sustainable growth
- Board actively evaluating strategic alternatives for shareholder value creation
- Merger agreement with Albertsons effectively terminated
- Legal expenses expected from upcoming court proceedings
- Potential reputational impact from public legal dispute
Insights
The legal battle between Kroger and Albertsons over their failed merger reveals significant implications for both companies. Albertsons' lawsuit and Kroger's strong rebuttal, particularly regarding the break fee, could lead to protracted litigation. The key legal issues center on alleged breaches of the merger agreement and interference claims. Kroger's defensive posture and confidence in proving Albertsons' "repeated intentional material breaches" suggests they have substantial evidence to counter the claims. The mention of a break fee dispute adds another layer of complexity, as these typically range in the hundreds of millions of dollars in large merger agreements. The outcome could impact both companies' financial positions and future strategic options.
This development signals a messy end to what would have been a
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.
About Kroger
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: To Feed the Human Spirit™. We are, across our family of companies nearly half a million associates who serve over 11 million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.
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SOURCE The Kroger Co.
FAQ
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