WASHINGTON (dpa-AFX) - Kroger Co. (KR) Tuesday said it has filed a legal response against the complaint by Albertsons Companies, Inc. (ACI) in connection with the terminated merger agreement between the two companies. The Cincinnati, Ohio-based food and drug retailer said Albertsons is not entitled for the $600 Mln termination fee.
Kroger, in its filing, explained that it has been seeking regulatory approval and close the merger. Further, it was alleged that Albertsons's misconduct came to light in the middle of the antitrust trials.
According to Kroger, Albertsons is not entitled to the $600 million termination fee under the terms of the parties' merger agreement, nor is Albertsons entitled to the other damages it seeks.
The counterclaims filed in the Delaware Court of Chancery, Kroger described Albertsons's development of a 'Plan B' to sue Kroger in the event the merger failed to close.
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