Kroger (KR) shares rose Thursday morning after the grocery chain laid out its plans for the fut♛ure now that its proposed merger with Albertsons () has been called off, including a new $7.5 billion stock buyback plan.

After the bell Wednesday, the grocery giant said it was terminating the merger agreement, after 澳洲幸运5官方开奖结果体彩网:Albertsons said it was doing the same earlier in the day after a pair of judges 澳洲幸运5官方开奖结果体彩网:blocked the merger Tuesday.

Albertsons also said it had filed a lawsuit, demanding the $600 million termination fee for the collapsed merger and "billions" in additional damages as it accused Kroger of not doing enough to satisfy regulatory concerns and get the deal approved.

Kroger Calls Albertsons Suit 'Baseless,' Accuses Chain of Breaching Merger Agreement

In its own statement in response Wednesday, Kroger called the claims "baseless and without merit," and accused Albertsons of "repeated intentional material breaches and interference throughout the merger process."

Kroger said it plans to fight the lawsuit, and laid out its strategy moving forward without the merger. Along with continuing to invest in things like lower prices and higher wages for employees, Kroger said it plans to resume stock buybacks, as it had suspended them since announcing the merger in October 2022.

The chain said its board has approved a new $7.5 billion buyback plan,꧂ replacing a $1 billion plan that was approved in September 2022—shortly before it paused buybacks to prepare for the merger. Kroger is also starting an accelerated portion of the program, buying back $5 billion in stock.

The retailer said it will provide additional information about other "strategic priorities" and long-term financial targets at its next investor day in the spring of 2025.

Kroger sharꦫes were up about 3% Thursday morning, around 38% above꧟ where they started the year.