Judge blocks Albertsons-Kroger $25 billion supermarket merger

A U.S. District Judge in Oregon has blocked a $25 billion-bid by supermarket giant Kroger to take over rival Albertsons after ruling that the Federal Trade Commission's concerns about the merger's impact on market consolidation were valid. Judge Adrienne Nelson said Tuesday afternoon that a merger between the two companies would end up harming consumers.

Representatives for Albertsons and Kroger did not immediately respond to requests for comment. Kroger, based in Cincinnati, has said a court ruling like this one would effectively scuttle the merger. Kroger shares closed up 5% Tuesday, while shares of Albertsons, based in Boise, finished 2% lower. Kroger had argued the deal was necessary for it to continue to compete with big box retailers like Walmart and Target, as well as Amazon, that have significantly grown their grocery businesses.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Court blocks Kroger's $25 billion acquisition of grocery rival AlbertsonsThe FTC argued the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers.
Fuente: CNBC - 🏆 12. / 72 Leer más »

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsPORTLAND, Ore. (AP) — A federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could
Fuente: Mynorthwest - 🏆 438. / 53 Leer más »