Albertsons said Kroger has failed to make best efforts to secure regulatory approval of the deal, a claim the latter called “baseless.”

Key Takeaways Kroger shares rose Thursday morning after the retailer said it is abandoning the Albertsons merger and restarting stock buybacks.The grocery chain said after the bell Wednesday that it will begin a new $7.

A federal judge blocked the deal and sided with the Federal Trade Commission, which raised antitrust concerns over the merger.