Albertsons and Kroger fighting in court over failed merger

Catch up quick: Albertsons alleges that Kroger didn't take the necessary steps to secure antitrust approval for the $25 billion deal, and is asking the court for a whopping $9.3 billion in damages (including the $600 million termination fee).

• Kroger calls that hogwash, arguing that the merger was "doomed from the beginning" because of state and federal regulatory blowback. Moreover, it did make a major divestiture proposal.

The bottom line: If Albertsons wins, particularly with a large judgment, it could change how future merger agreements are structured.

• For example, they might need to include detailed divestiture plans. Or language stating that termination fees are the only financial remedies available if a deal is blocked by regulators.